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  • Wink, Inc. Releases 1st Quarter, 2018 Deferred Non-Variable and Structured Annuity Sales Results

    {May 24th, 2018} by Press Release

    — FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE   INDEXED ANNUITY SALES UP MORE THAN 10% Wink, Inc. Releases 1st Quarter, 2018 Deferred Non-Variable and Structured Annuity Sales Results Des Moines, Iowa. May 24, 2018– Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed annuity sales data since 1997, is in its third […]


    {May 24th, 2018} by Sheryl J. Moore

    Indexed Annuity Sales for the first quarter of 2018 were $14.21 billion, compared with sales of $12.92 billion for the first quarter of 2017. First quarter indexed annuity sales were up more than 4% when compared to the previous quarter, and up more than 10% when compared with the same period last year.   Total […]

    Insurers are selling off old annuity business — what advisers need to know

    {May 24th, 2018} by Greg Iacurci

    Insurance companies have been selling old blocks of annuity business at a rapid clip, and it’s likely the quick pace of transactions will continue at least through this year and possibly beyond. This could ultimately be bad news for policyholders and, by extension, their financial advisers. Click HERE to read the full story via InvestmentNews; […]

    Clayton: SEC left ‘fiduciary’ out of new advice rule to avoid investor confusion

    {May 24th, 2018} by Mark Schoeff Jr.

    Securities and Exchange Commission chairman Jay Clayton said the agency’s proposal to raise investment-advice standards for brokers doesn’t use the term “fiduciary” because it would have confused investors about the distinctions between brokers and investment advisers. Click HERE to read the full story via InvestmentNews; registration required.   

    American Equity Addresses Market Rumors

    {May 23rd, 2018} by American Equity

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–May 23, 2018– American Equity Investment Life Holding Company(NYSE: AEL) (“American Equity”) notes the recent market rumors and confirms that it is in preliminary discussions regarding a potential transaction. No assurance can be given that such discussions will continue, that any definitive agreement will be reached with respect to a transaction or […]

    DOL Fiduciary Rule 99% Dead After Appeal Denied

    {May 22nd, 2018} by John Hilton

    The Fifth Circuit Court of Appeals rejected an appeal by a trio of states today, clearing the way for the controversial Department of Labor fiduciary rule to be officially killed. The final action appears to be for the court to issue a mandate to vacate the rule. With all appeals exhausted, that mandate could come […]

    NAIFA Members Approve Retooled Local Association Structure

    {May 22nd, 2018} by Susan Rupe

    WASHINGTON – In the wake of shrinking membership and difficulty finding local leaders,  National Association of Insurance and Financial Advisors members voted today to implement a major bylaws change. The sweeping change will affect the way its 52 state associations and 550 local associations conduct business. It will allow state organizations to direct more resources […]

    SEC official addresses criticism of best-interest standard for brokers

    {May 22nd, 2018} by Mark Schoeff Jr.

    A Securities and Exchange Commission official defended the agency’s proposal to raise investment-advice standards for brokers Tuesday, asserting it would increase investor protection while building on current broker rules. Click HERE to read the full story via InvestmentNews; registration required. 

    Money Managers Weigh In On Vexing Morningstar Ratings

    {May 22nd, 2018} by Brian O'Connell

    A new study has some analysts questioning the effectiveness of Morningstar’s fund rating system. Only 12 percent of Morningstar five-star funds maintained that pristine rating five years later, according to the Wall Street Journal report. Ten percent of five-star picks wound up being one-star picks over the same timeframe. Those statistics prompted renewed criticism of Morningstar, with […]

    Pope Francis wants financial advisers to work like fiduciaries

    {May 22nd, 2018} by Bruce Kelly

    Pope Francis weighed in on the debate over the need for a universal fiduciary standard for financial advisers Thursday in a wide critique of global finance that admonished advisers who worked against the best interests of their clients. Issued by the Vatican, the bulletin took aim at broad targets, such as selfishness in the financial industry, to […]

    Thirsty Life Insurers See Bond Yields Rise to Highest Level in Five Years

    {May 22nd, 2018} by Allison Bell

    Life insurers may finally start to get higher interest rates on their investments in corporate bonds, after years of waiting for the interest rate drought to end and rates to turn up. Life insurers invest about $2.1 trillion of their $4.3 trillion in general account assets in corporate bonds, according to the American Council of Life Insurers. […]

    Finra anticipates oversight role for SEC advice rule

    {May 22nd, 2018} by Mark Schoeff Jr.

    Finra chief executive Robert Cook said the regulator is likely to play a role in oversight of a new broker investment-advice standard that the Securities and Exchange Commission is developing. Last month, the SEC released an investment-advice proposal package that includes a regulation that would require brokers to act in the best interests of their clients. It […]

    Indexed Annuity Sales Jump

    {May 22nd, 2018} by Al

    Overall sales of individual annuities fell slightly in the first quarter, but sales of products with returns linked to the performance of the stock market increased, according  to LIMRA. Insurers reported $51.8 billion in total U.S. individual annuity sales during the latest quarter, down from $52 billion for the first quarter of 2017. But sales of variable […]

    Susan Neely Named President and CEO of the American Council of Life Insurers

    {May 22nd, 2018} by American Council of Life Insurers

    WASHINGTON, May 17, 2018 /PRNewswire/ — The American Council of Life Insurers (ACLI) announced today that Susan Neely, president and CEO of the American Beverage Association (ABA), will join ACLI as president and CEO this summer. Neely will succeed Dirk Kempthorne, who earlier this year announced his intention to step down as president and CEO after eight successful years at […]

    Lincoln Financial Group Launches Indexed Variable Annuity with Unique Income Option and Simple Investing Choices

    {May 22nd, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced the launch of Lincoln Level AdvantageSMindexed variable annuity, a retirement planning solution offering savers options for protection and growth opportunities, with the ability to take income in retirement when ready. Designed for investors approaching their retirement years and for those already in retirement,Lincoln Level AdvantageSM helps clients protect […]

    Insurance on the Fortune 500 list

    {May 22nd, 2018} by Fortune 500

    This year’s Fortune 500 marks the 64th running of the list. In total, Fortune500 companies represent two-thirds of the U.S. GDP with $12.8 trillion in revenues, $1.0 trillion in profits, $21.6 trillion in market value, and employ 28.2 million people worldwide. See a complete list here  See which insurers made the list 

    Annuities Can Fit With A Fiduciary Practice, Prudential Exec Says

    {May 22nd, 2018} by Ben Mattlin

    Amid the uproar over changing fiduciary regulations, the volatility of annuities sales and the introduction of myriad new annuity products and features, it can be hard to keep up. Kent Sluyter, president of Newark, N.J.- based Prudential Annuities, a unit of Prudential Financial, helped shed light on what’s going on and what to expect going […]

    Securian Financial Launches New Brand Identity, First-Ever National Television Advertising Campaign

    {May 22nd, 2018} by Securian Financial

    May 21, 2018 — ST. PAUL, Minn.–(BUSINESS WIRE)–Families that feel confident with their finances can more easily enjoy the here and now, making life’s everyday, unexpected and occasionally unbelievable moments count. That is the central idea anchoring Securian Financial’s new brand campaign—“Every Moment Counts”—which is being brought to life through the company’s first-ever national television advertising […]

    Another longshot bid to save DoL fiduciary rule

    {May 22nd, 2018} by Kenneth Corbin

    Attorneys general from three states are asking a federal court to reconsider its decision to vacate the Department of Labor’s fiduciary rule, one of a dwindling number of procedural moves available to supporters of the regulation. Earlier this month, the 5th U.S. Circuit Court of Appeals denied a motion from the attorneys general of California, New […]

    Opinion: 10 facts about the SEC’s best interest rule

    {May 22nd, 2018} by Todd Cipperman

    A few weeks ago, the SEC proposed the Regulation Best Interest rule, which requires brokers to act in the best interest of each retail customer at the time the recommendation is made — notwithstanding the broker’s own financial interests. However, the regulator doesn’t define the term “best interest” in 400-plus pages. Now that the U.S. […]

    A.M. Best Affirms Credit Ratings of Thrivent Financial for Lutherans and Thrivent Life Insurance Company

    {May 22nd, 2018} by Thrivent

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” of Thrivent Financial for Lutherans and its subsidiary, Thrivent Life Insurance Company (both headquartered in Minneapolis, MN) (together known as Thrivent Financial). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Thrivent Financial’s balance sheet strength, […]

    Inside John Hancock’s four-year core transformation effort

    {May 21st, 2018} by Sharon Goldman

    John Hancock is launching a four-year effort, in partnership with technology consulting leader Infosys, to implement a single, integrated platform to provide its life and annuity customers with a holistic digital experience. The initiative is part of a broader corporate ambition to digitize operations and position the company as a customer-centric leader. These efforts already […]

    Opinion: Advisor Questions Some High Annuity Return Projections

    {May 21st, 2018} by Allison Bell

    Anil Vazirani, a financial advisor who regularly sells indexed annuities, says some life insurers should be more conservative when they tell consumers about possible returns from indexed annuities that aren’t filed as securities. If an issuer wants to show a consumer that an annuity can earn 10% annually, with no risk, the issuer should file […]

    Investors Perk Up As Bank CD Rates Near 3 Percent

    {May 20th, 2018} by Brian O'Connell

    With interest rates rising, bank certificates of deposit are surging ahead of bonds as the apple in investors’ eyes. In March, after the Federal Reserve hiked interest rates by 0.25 percent, banks, especially online financial institutions, started to inch their CD rates up toward 3 percent. Compare that to terms as recent as 2015, when […]

    States trying to save DOL fiduciary rule appeal rejection of effort to intervene

    {May 17th, 2018} by Mark Schoeff Jr.

    Another attempt to appeal a federal court ruling striking down the Labor Department’s fiduciary rule is keeping the measure viable for now, but it still faces long odds of defying death. California, New York and Oregon filed a motion late Wednesday in the 5th Circuit Court of Appeals, seeking a rehearing of a May 2 ruling ruling by a […]

    This Is Worse than the Fiduciary Rule

    {May 17th, 2018} by Kerry Pechter

    With the Fifth Circuit Court of Appeals’ decision to vacate the Obama fiduciary rule on May 7, the securities, life insurance and retirement industries had effectively thwarted a big threat to their product distribution model. But, based on what I’ve heard at industry conferences, they’re not uniformly satisfied with their victory. That’s no surprise. The […]

    Buffered Annuities Boost Allianz Sales In 1Q

    {May 17th, 2018} by Cyril Tuohy

    Sales of life and annuity products in the U.S. rose 4 percent in the first quarter to $2.5 billion compared to the year-ago period, Allianz SE reported. Buffered variable annuities were largely responsible for the sales growth, the company said. Buffered VAs are structured to protect, or buffer, buyers against most market losses – but […]

    States Ask For Review Of DOL Rule Overturn

    {May 17th, 2018} by John Hilton

    California, New York and Oregon filed a last-minute, long-shot appeal for a court to reconsider its request for a full review of its decision to toss the Department of Labor fiduciary rule. The Fifth Circuit Court of Appeals had denied the states’ request for appeal in a May 2 decision. Wednesday was the deadline for […]

    The life-insurance industry is in need of new vigour

    {May 17th, 2018} by The Economist

    LIFE insurance is among the oldest financial products. The Amicable Society, founded in London in 1706, charged members a set contribution and paid out annually to widows and children of those who had died in the previous 12 months. Today it is a vast industry: life and health insurers employ over 800,000 people in America […]

    5 New Life Products for Spring

    {May 17th, 2018} by Allison Bell

    U.S. insurers have kept the spotlight on permanent life products in recent announcements of new life policies and features. Personal finance columnists and advisors with roots in the financial planning community tend to promote the benefits of term life, but some of the most heavily promoted new life products are universal life, indexed universal life or […]

    First Protective Streamlines Case Management for Advisors

    {May 16th, 2018} by First Protective Insurance Group, Inc.

    Birmingham, AL, May 15, 2018. First Protective Insurance Group, Inc. announced today that it has released a cutting-edge mobile application exclusively for the use of First Protective producers. Levering technology developed by SalesUp HQ, Inc., First Protective has made it simple and convenient for agents and advisors to receive real-time updates on case management, underwriting, […]

    How clients can use annuities to pay for long-term care

    {May 16th, 2018} by Donald Jay Korn

    With millions of baby boomers in or nearing retirement, the need for long-term care insurance might seem obvious. Retirees face extended life expectancy as well as rising costs for nursing home stays, assisted living facilities and home care. Nevertheless, standalone policy sales declined nearly 70% from $550 million in premiums in 2012 to just $176 […]

    Next up for Envestnet: Insurance

    {May 16th, 2018} by Charles Paikert

    NEW ORLEANS — Envestnet is getting into the insurance business. The technology and platform giant will begin offering insurance products on its platform later this year, Envestnet President Bill Crager said at the company’s annual conference. “We’re going to fully integrate insurance into the life cycle of advice on the Envestnet platform,” Crager said, while […]

    Advisers Want Improved Annuity Options for Clients

    {May 16th, 2018} by Amanda Umpierrez

    As annuities struggle to gain traction within the retirement industry, advisers are finding it increasingly difficult to address various client needs with few annuity options, according to a recent study from Global Atlantic Financial Group. The nationwide study—which surveyed 400 advisers—found that 56% of those surveyed consider annuities as an integral factor to retirement planning, but nine […]

    AIG Enhances Underwriting For Two IUL Insurance Products

    {May 16th, 2018} by AIG

    HOUSTON, May 15, 2018 – American International Group, Inc. (NYSE: AIG), a leader in the index universal life (IUL) insurance market, announced new, non-medical underwriting for Max Accumulator+ IUL insurance policies and improvements to non-medical underwriting for QoL Max Accumulator+ IUL insurance policies, both issued by American General Life Insurance Company (AGL). “Non- medical underwriting” […]

    Financial Advisors Want More Options from Annuity Providers, According to Global Atlantic Study

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

    NEW YORK–(BUSINESS WIRE)–More than half of financial advisors (56%) believe that annuities are an important part of a retirement plan, but nine out of ten (90%) find it difficult to address client needs using a “one-size-fits-all” approach with a single type of annuity. Of these advisors, almost all (96.4%) said they would likely increase their […]

    Allianz Steps Up Venture Investments in Insurance Startups

    {May 15th, 2018} by Julie Verhage

    Allianz Life Insurance set up its venture arm two years ago, as more new startups using breakthrough technology promised to one day transform its industry. Now, after a slow initial period, the insurance giant’s VC investments are picking up steam. Allianz has invested in six startups so far, half of them in 2018 alone, and […]

    Life Insurance Activity Off In April

    {May 15th, 2018} by N/A

    Braintree, MA.  — U.S. life insurance application activity was off in April down – 2.1% 1 year-over-year, according to the MIB Life Index. Just as March results were inflated by the inclusion of Good Friday (one less business day), April’s results were artificially low by its exclusion (one more business day); April’s composite was up 2.8% on an […]

    How Young Is Too Young? Life Insurance And Children

    {May 15th, 2018} by Edward C. Auble

    I would like to begin with a personal story. My brother George was born when I was six years old. But he had a respiratory condition and lived only 19 days. Shortly after George’s death, my father purchased life insurance on my sister and me. I can only assume that the $1,000 benefit was intended […]

    David Byers Takes Over at AALU

    {May 15th, 2018} by Allison Bell

    David Byers Jr. took over from Rich DeVita earlier this month as the president of AALU in Washington, at the group’s annual meeting. AALU is a Reston, Virginia-based group for financial professionals. It attracted about 1,000 people to the meeting, according to AALU. Click HERE to read the original story via ThinkAdvisor.  Byers is the managing […]

    Insurers Report Strong 1Q Annuity Sales

    {May 15th, 2018} by Cyril Tuohy

    After several uneven quarters for annuity sales, insurers are reporting a strong first quarter in earnings calls. Official sales statistics for the overall market are expected next week, but across several top annuity sellers a peek into their sales numbers augurs well. Annuity sales got a shot in the arm from regulatory developments in the […]

    Lincoln Financial Group Launches Indexed Universal Life Solution with Cash Growth Flexibility for Changing Client Needs

    {May 15th, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) today announced the latest addition to its broad suite of life insurance products, Lincoln WealthAccumulateSM Indexed Universal Life (IUL). Lincoln WealthAccumulateSM IUL provides clients the flexibility to achieve a wide range of financial goals as life changes, offering significant cash value growth opportunities and supplemental income through distributions. “As clients move through life’s […]

    Securian Adds New Premium Payment Options, Enhanced Benefits to “SecureCare” Universal Life Insurance Policy with Long-Term Care Benefits

    {May 15th, 2018} by Securian Financial Group

    ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial Group of St. Paul, Minnesota, has added new premium payment options and enhanced benefits to SecureCare Universal Life, a permanent life insurance contract with long-term care benefits. Launched in 2017 as a single premium-only linked benefit product, the enhanced version of SecureCare, issued by MINNESOTA LIFE INSURANCE COMPANY, allows customers […]

    New York State Fines Life Insurer Over Reinsurance Arrangement

    {May 15th, 2018} by Allison Bell

    The New York State Department of Financial Services has imposed a $6.3 million fine on a life insurer, over allegations that the insurer used improper reinsurance transactions involving an affiliate to minimize term life reserves. The department imposed the fine on William Penn Life Insurance Company, a unit of Legal & General America, which is a […]

    The Impact Partnership announces first-ever Fixed Indexed Annuity designed for high net worth individuals, developed in partnership with Lincoln Financial Group

    {May 15th, 2018} by The Impact Partnership

    ATLANTA, May 14, 2018 /PRNewswire/ — The Impact Partnership announced today a new partnership with Lincoln Financial Group (NYSE: LNC) to launch Lincoln Impact AdvantageSM, a fixed indexed annuity providing higher net worth clients with competitive upside opportunities through equity-like returns while protecting from equity-like losses. Lincoln Impact AdvantageSM features the Balanced Capital Strength 6 Index, utilizing First Trust’s Smart Beta […]

    B-Ds Have To Go Big Or Narrow, Cerulli Says

    {May 14th, 2018} by Cyril Tuohy

    Grow, specialize, merge or die. That’s the message to broker-dealers struggling with thinning profit margins, according to a new report by Cerulli Associates. Broker-dealers competing “with the highest degree of scale or niche specialization are best positioned for competitive strength and fiscal health,” the report said. Click HERE to read the full story via INN; […]

    2 Charged With Theft, Forgery in $1.2M Annuity Scam

    {May 14th, 2018} by Cyril Tuohy

    A California insurance agent sold a $1.2 million annuity to a man with dementia and helped a relative of the man steal $700,000 in withdrawals, according to court documents. Life agent Michael David Wolf, 59, of Moorpark, sold the $1.2 million policy to the man in 2014, six months after he had been diagnosed with […]

    AALU targets growth, diversity as priorities during 2018 annual meeting

    {May 14th, 2018} by Brian Anderson

    A focus on growth and diversity was evident during the recent 2018 Association for Advanced Life Underwriting (AALU) Annual Meeting in Washington, D.C. New CEO Marc Cadin (shown, left), who will be taking over later this year for David Stertzer (shown, right) after Stertzer’s 33-year run as the organization’s CEO, stressed the need for growth […]

    What If Investment Companies Hate Their Life Insurer Affiliates?

    {May 12th, 2018} by Allison Bell

    Variable annuity regulation writers are fighting a complicated capital requirement fight that has raised a simple, painful question: What if the managers of a financial services company stop caring about the fate of a life insurance company affiliate? Two panels at the National Association of Insurance Commissioners have drawn attention to the plight of life […]

    NAIC Veteran Regulator ‘Concerned’ About SEC Best Interest Rule

    {May 12th, 2018} by John Hilton

    Signs of tensions between state regulators and the Securities and Exchange Commission over their simultaneous work on a best-interest standard were evident at a Washington, D.C., conference this week. SEC official Paul Cellupica let out a nervous chuckle when asked how the SEC best-interest rule is being received by other regulators. He appeared at the […]

    Financial advisor: The best job for working moms?

    {May 11th, 2018} by Amanda Schiavo

    Working moms are still fighting plenty of old stereotypes, but some are finding solace in the advisory industry. In fact, some women are becoming advisors in their mid-career years, specifically for perks like better work-life balance and the ability to spend more time with their kids. To be sure, old stigmas linger despite academic evidence […]

    Voya To Purchase Non-Qualified Plan Provider Pen-Cal

    {May 11th, 2018} by Christopher Robbins

    Windsor, Conn.-based Voya Financial announced on Friday that it will purchase Pen-Cal Administrators, a nonqualified, deferred-compensation benefit plan provider and consultant. Under the agreement, Pen-Cal will become part of Voya’s retirement unit. Voya will use the transaction to provide nonqualified services across its 401(k), 403(b) and 457 plan markets. Click HERE to read the original […]

    DOL Fiduciary Rule Still Effective Until Court Issues Mandate: Lawyer

    {May 11th, 2018} by Melanie Waddell

    The Labor Department’s fiduciary rule is still effective until the U.S. Court of Appeals for the 5th Circuit issues its mandate to vacate the rule, David Kaleda, principal at Groom Law Group, said Thursday. “Yes, the [Labor Department’s] rule is still in effect until the mandate is issued,” Kaleda said at the Practising Law Institute’s […]

    How Not to Sell an Indexed Annuity

    {May 11th, 2018} by Kerry Pechter

    “Run like hell.” When RIJ invited comments on our April 5 article, “Should My Neighbor Buy That Indexed Annuity?” which described a woman’s real-life experience with an advisor she met at a free retirement planning seminar, we didn’t expect to hear much praise for the advisor’s assertive approach. Click HERE to read the full story via RIJ; subscription […]

    Iowa insurance regulator cautions SEC about modifying suitability rule

    {May 11th, 2018} by Mark Schoeff Jr.

    A state insurance official on Thursday asserted that current investment-advice regulations for brokers are working and that modifying them under a proposal from the Securities and Exchange Commission could hamstring state regulators. Iowa Insurance Commissioner Doug Ommen said that the suitability rule that requires brokers to sell investment products that align with their clients’ objectives […]

    AXA Equitable Shares Debut on New York Stock Exchange

    {May 10th, 2018} by Allison Bell

    AXA Equitable Holdings Inc. shares began trading today on the New York Stock Exchange under the symbol “EQH.” AXA Equitable pointed out, in a banner hanging on the front of the exchange building, that the company has been around since 1859.  Click HERE to read the original story via ThinkAdvisor. AXA Equitable executives got a few […]

    DOL Rule Demise Coincides with Growing Popularity of Hybrid Annuities, says Nationwide Boss

    {May 10th, 2018} by Alex Padalka

    Craig Hawley, chief of Nationwide’s advisory solutions unit, is neither celebrating nor mourning the imminent death of the Department of Labor’s fiduciary rule. But a calmer regulatory environment is coinciding with the growing popularity of some annuity products, he tells ThinkAdvisor. The saga of the DOL’s rule meant that “the industry hunkered down a little bit,” according […]

    A.M. Best Upgrades Issuer Credit Ratings of Members of Pacific Life Group

    {May 10th, 2018} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” from “aa-” and affirmed the Financial Strength Rating of A+ (Superior) of the members of Pacific Life Group (Pacific Life) (headquartered in Newport Beach, CA): Pacific Life Insurance Company and Pacific Life & Annuity Company. Additionally, A.M. Best has upgraded the Long-Term ICR to “a” from “a-” […]

    With fiduciary rule out of the way, VA sales may improve, but won’t return to previous peak

    {May 10th, 2018} by Nick Thornton

    Sales of variable annuities, which have been slumping for years, are expected to see some improvement now that the Labor Department’s fiduciary rule has been vacated by an Appellate Court, and the agency has extended a temporary enforcement policy that will give sellers of investments wider compliance latitude. “The DOL’s announcement of a new temporary fiduciary rule […]

    Lincoln To Offer First Buffered VA

    {May 9th, 2018} by Cyril Tuohy

    Lincoln Financial is jumping into the booming buffered variable annuity market with its first product next month. “There are some advantages to our product versus the competition, and we expect that to both help us take market share and expand the size of the market with our presence and wholesaling capability,” said Lincoln president and […]

    SEC publishes advice rule, sets Aug. 7 comment deadline

    {May 9th, 2018} by Mark Schoeff Jr.

    The Federal Register published the Securities and Exchange Commission’s investment advice reform proposal Wednesday, officially opening a comment period that will last until Aug. 7. The SEC voted 4-1 on April 18 to release the three-part proposal, which includes a best-interest standard for brokers; new disclosure requirements for brokers and investment advisers, as well as financial adviser title reform; and an interpretation […]

    Insurance ‘Great Restructuring’ Seeds AXA Equitable’s Giant U.S. IPO

    {May 9th, 2018} by Alex Barinka and Katherine Chiglinsky

    U.S. initial public offerings (IPOs) have the seismic changes in the insurance industry to thank for 2018’s biggest share sale. AXA Equitable Holdings Inc. aims to raise as much as $3.7 billion in its IPO, which is expected to price after the market closes on Wednesday. The business is made up of the U.S. operations […]

    Brighthouse Index-Linked Shield Annuities Up 59% In 1Q

    {May 9th, 2018} by Cyril Tuohy

    First quarter sales of Brighthouse Financial’s Shield brand of index-linked variable [structured/buffered] annuities soared 59 percent over the year-ago period to $729 million. Sales reflect the strength of the company’s distribution relationships and advertising and marketing campaigns, Brighthouse president and CEO Eric Steigerwalt said in a conference call. Sales of Shield annuities along with the […]

    FINRA slams Fifth Third Securities with $6M in sanctions over variable annuity sales lapses

    {May 9th, 2018} by Margarida Correia

    Fifth Third Securities, the retail brokerage arm of Fifth Third Bank, has gotten into trouble with FINRA yet again over the sale of variable annuities. The firm agreed to pay a $4 million fine and approximately $2 million in restitution to customers to settle charges that it failed to accurately describe the costs and benefits […]

    When Is an Annuity a Good Choice?

    {May 9th, 2018} by Matthew Frankel

    Spoiler alert: I’m not a big fan of annuities. Annuities often come with astronomical fees and commissions, some of which can be quite difficult for investors to identify and understand. More often than not, I find myself trying to talk retirees out of buying annuities. Having said that, there are some cases when buying an […]

    The Far Reach Of Protection

    {May 9th, 2018} by Ray Caucci

    As our average life expectancy grows and healthcare costs skyrocket, Americans should take some time to revisit their income needs in retirement. The Centers for Medicare and Medicaid Services estimates Americans spent approximately $3.3 trillion on healthcare-related expenses in 2016, or about $10,348 per person. Not to mention, advances in modern medicine are keeping individuals […]

    Piwowar departure will complicate action on SEC advice rule

    {May 9th, 2018} by Mark Schoeff Jr.

    When Securities and Exchange Commission member Michael Piwowar departs July 7, it will make the agency’s already heavy lift to promulgate an investment advice reform package even more of a backbreaker. Mr. Piwowar, a Republican, announced Monday he would step down following the completion in June of his five-year term on the five-member commission. Click […]

    What’s Wrong With Suitability? Industry Groups Wonder

    {May 8th, 2018} by John Hilton

    Regulators set their sights on the suitability standard governing insurance sales almost from the time it was adopted in 2010. Meanwhile, agents keep delivering life insurance and annuities as their industry representatives wonder: What’s wrong with suitability? Dwight Carter of the Fixed Annuity Consumer Choice campaign denounced the rush to create a “theoretical ‘standard of […]

    How 7 Annuity Issuers Are Really Doing Now

    {May 8th, 2018} by Allison Bell

    The first quarter of the year was a good period for some big, publicly traded U.S. annuity issuers and a tough period for others. Earnings releases have begun to pour out of the issuers since last Monday, and the sales and earnings pictures are jumbled. One point was clear, however: Top executives at the issuers are […]

    Mystery Shopper Rates Insurers Online

    {May 8th, 2018} by Cyril Tuohy

    A mystery life insurance shopper – call her Alice – bought term coverage for her family recently and was thoroughly stumped. Filling out her family’s details in online forms in exchange for an estimated monthly premium was easy enough, but the follow up was another, mostly nonexistent, story. “They can lure you to the website […]

    Wink’s 2017 Leader in Fixed Annuity Sales

    {May 8th, 2018} by Wink, Inc

                Jackson National Life Insurance Company       Per Wink’s Sales & Market Report, aggregately Jackson National Life Insurance Company and Jackson National Life of New York were the #1 sellers of Fixed Annuities in 2017. Rankings based on participants of Wink’s Sales & Market Report/Fixed Annuities, which considers manufacturers of […]

    Wink’s 2017 Leader in Indexed Annuity Sales

    {May 8th, 2018} by Wink, Inc

              Allianz Life         Per Wink’s Sales & Market Report, Allianz Life of North America was the #1 seller of Indexed Annuities in 2017. Rankings based on participants of Wink’s Sales & Market Report/Indexed Annuities, which considers manufacturers of indexed deferred annuities, which earn excess interest that is limited, […]

    Wink’s 2017 Leader in Indexed Life Insurance Sales

    {May 8th, 2018} by Wink, Inc

                  Pacific Life Companies         Per Wink’s Sales & Market Report, aggregately Pacific Life Insurance Company and Pacific Life & Annuity Company were the #1 sellers of Indexed Life Insurance in 2017. Rankings based on participants of Wink’s Sales & Market Report/Indexed Life, which considers manufacturers of […]

    Wink’s 2017 Trailblazer in Fixed Annuity Sales

    {May 8th, 2018} by Wink, Inc

                  Minnesota Life – Securian         Per Wink’s Sales & Market Report, aggregately Minnesota Life Insurance Company and Securian Life Insurance Company increased their Fixed Annuity market share the greatest percentage of any company, from 2016 to 2017. Rankings based on participants of Wink’s Sales & […]

    Wink’s 2017 Trailblazer in Indexed Annuity Sales

    {May 8th, 2018} by Wink, Inc

                Thrivent Financial         Per Wink’s Sales & Market Report, Thrivent Financial for Lutherans increased their Indexed Annuity market share the greatest percentage of any company, from 2016 to 2017. Rankings based on participants of Wink’s Sales & Market Report/Indexed Annuities, which considers manufacturers of indexed deferred annuities, […]

    Wink’s 2017 Trailblazer in Multi-Year Guaranteed Annuity Sales

    {May 8th, 2018} by Wink, Inc

                    Protective Life Companies         Per Wink’s Sales & Market Report, aggregately Protective Life Insurance Company and Protective Life and Annuity Insurance Company increased their Multi-Year Guaranteed Annuity market share the greatest percentage of any company, from 2016 to 2017.  Rankings based on participants of Wink’s […]

    Wink’s 2017 Trailblazer in Indexed Life Insurance Sales

    {May 8th, 2018} by Wink, Inc

                Farm Bureau Life         Per Wink’s Sales & Market Report, Farm Bureau Life Insurance Company increased their Indexed Life Insurance market share the greatest percentage of any company, from 2016 to 2017. Rankings based on participants of Wink’s Sales & Market Report/Indexed Life, which considers manufacturers of permanent […]

    Wink’s 2017 Excellence in Annuity Innovation Award

    {May 8th, 2018} by Wink, Inc

                Security Benefit Life Insurance Company for RateTrack Annuities   (the first “floating rate” annuities)         About Wink’s Sales & Market Report Wink’s Sales & Market Report has served as the insurance industry’s #1 resource of indexed insurance product sales since 1997. Providing sales by product, company, […]

    Wink’s 2017 Excellence in Life Insurance Innovation Award

    {May 8th, 2018} by Wink, Inc

              Accordia Life for Lifetime Builder ELITE IUL   (“Linked Loan” option)           About Wink’s Sales & Market Report Wink’s Sales & Market Report has served as the insurance industry’s #1 resource of indexed insurance product sales since 1997. Providing sales by product, company, crediting method, index, […]

    NAIFA Launches New Learning Center To Boost Advisor Productivity

    {May 8th, 2018} by NAIFA

    FALLS CHURCH–The National Association of Insurance and Financial Advisors (NAIFA) has launched the NAIFA Learning Center, a virtual, on-demand video-based platform that builds financial advisors’ confidence by enhancing their knowledge of financial products and clarifying the habits and skills they need to build meaningful client relationships. The Center offers hundreds of engaging, high-impact videos along with […]

    Fiduciary rule critic Piwowar to leave SEC

    {May 8th, 2018} by Margarida Correia

    SEC Commissioner Michael Piwowar plans to step down from his post on July 7, after serving nearly five years on the five-person commission, according to a statement posted on the SEC website. Piwowar, a Republican, has been an outspoken critic of the Department of Labor’s fiduciary rule. “To me, that rule, it was about one […]

    Northwestern Mutual shutting down LearnVest

    {May 8th, 2018} by Ryan W. Neal

    Northwestern Mutual is shutting down digital financial planning startup LearnVest just three years after the insurance company paid $250 million for it. In a statement posted to the Northwestern Mutual website, the company announced that it is discontinuing LearnVest’s financial planning offering for consumers and the LearnVest@Work program for businesses. Northwestern Mutual will relaunch LearnVest later this year […]

    Advisors To Get Ranked — And Not Everyone Is Thrilled About It

    {May 8th, 2018} by Brian O'Connell

    Financial advisors may not be thrilled by the idea of being ranked against one another on job performance. But that’s exactly what one financial technology firm intends to do with its ranking of several key advisory areas, like portfolio management, client interaction, and fees. The firm, StackUp, was founded on the premise that money managers […]

    Court ruling aside, for now DOL will rely on fiduciary rule to govern investment advice

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

    Despite a court decision to vacate the Department of Labor’s fiduciary rule, the DOL said it will continue to rely on the regulation for now to govern advice in retirement accounts. The 5th Circuit Court of Appeals was expected to issue a mandate on Monday that would put into effect its March 15 split decision striking […]

    How Nationwide’s Advisory Solutions Unit Head Sees the World

    {May 8th, 2018} by Allison Bell

    Craig Hawley could be complaining about federal regulators’ on-and-off-again efforts to set annuity sales standards. Hawley runs Nationwide Advisory Solutions — the Nationwide Mutual Insurance Company subsidiary formerly known as Jefferson National. Jefferson National. Jefferson National has been courting fee-based advisors with commission-free variable annuities since 2008, before the fiduciary rule was a gleam in […]

    FINRA Sanctions Fifth Third Over Variable Annuity Exchanges

    {May 8th, 2018} by Melanie Waddell

    The Financial Industry Regulatory Authority said Tuesday that it has fined Fifth Third Securities, Inc., $4 million and required the firm to pay approximately $2 million in restitution to customers for failing to appropriately consider and accurately describe the costs and benefits of variable annuity exchanges. Fifth Third also recommended exchanges “without a reasonable basis […]

    DOL Announces Fiduciary Rule Enforcement Policy

    {May 8th, 2018} by Melanie Waddell

    The Labor Department announced Monday that financial institutions should be allowed to continue to rely upon the temporary enforcement policy set out in its fiduciary rule, pending the department’s issuance of additional guidance, which it plans to issue “in the future.” The Department states in its Field Assistance Bulletin No. 2018-02 that it is “convinced that this […]

    Pacific Life Introduces New Variable Annuity Rider Providing 7% Annual Credit for Up to Five Years

    {May 8th, 2018} by Pacific Life

    NEWPORT BEACH, California, May 1 — Pacific Life, an insurance company, issued the following news release: When clients want guaranteed growth of their retirement income within the next five years, financial professionals can now offer a new solution. Pacific Life Insurance Company has launched Core Protect Plus, an optional guaranteed minimum withdrawal benefit available for […]

    Prudential Financial, Inc. Announces First Quarter 2018 Results

    {May 8th, 2018} by Prudential

    Net income attributable to Prudential Financial of $1.363 billion or $3.14 per Common share versus $1.369 billion or $3.09 per share for year-ago quarter. After-tax adjusted operating income of $1.340 billion or $3.08 per Common share versus $1.237 billion or $2.79 per share for year-ago quarter. Significant items: Net income and adjusted operating income include […]

    American Equity Reports First Quarter 2018 Results

    {May 8th, 2018} by American Equity

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities, today reported first quarter 2018 net income of $141.0 million, or $1.55 per diluted common share, compared to net income of $53.9 million, or $0.60 per diluted common share, for first quarter 2017. Non-GAAP operating income1 for […]

    Voices: Why your firm needs to hire more women advisors

    {May 8th, 2018} by Samantha O'Neil

    At the beginning of 2017, only 16% of all advisors were women, according to a report by Cerulli Associates. Sixteen percent. That number paints a very stark picture. While there is still a great deal of work to be done in our industry when it comes to recruiting women, there are benefits, too. Aside from […]

    What are the fees on that annuity? Good luck finding them

    {May 8th, 2018} by Bryan Borzykowski

    Three months ago, a new client came to Jeff Cutter’s office to get help reviewing a financial plan. He noticed the client had about $800,000 in a variable annuity and wondered how much he knew about that annuity. “I asked him to tell me his understanding of the expenses associated with it,” says Cutter, founder […]

    How annuities have changed since the DOL proposed the Fiduciary Rule.

    {May 8th, 2018} by Sheryl J. Moore

    Before I count the ways, let me comment that the average premium for a deferred annuity is $102,964 as of 4Q2017. I would surmise that the typical fee-based advisor asks that their clients have no less than $500,000 in assets before they consider managing their assets- am I right? There would be no one less-served by […]

    FINRA Sanctions Fifth Third Over Variable Annuity Exchanges

    {May 8th, 2018} by Melanie Waddell

    The Financial Industry Regulatory Authority said Tuesday that it has fined Fifth Third Securities, Inc., $4 million and required the firm to pay approximately $2 million in restitution to customers for failing to appropriately consider and accurately describe the costs and benefits of variable annuity exchanges. Fifth Third also recommended exchanges “without a reasonable basis […]

    Four challenges in using annuities for retirement planning — and how to overcome them

    {May 8th, 2018} by Paula Nelson

    Over the years, I’ve had countless conversations with advisers about retirement planning and the use of guaranteed income products. While some embrace annuities and their ability to offer consistency in retirement income, others are more dismissive. It’s not hard to see why these advisers are skeptical, especially if their experience with annuities is limited to […]

    Brighthouse Financial Announces First Quarter 2018 Results

    {May 8th, 2018} by Brighthouse Financial, Inc

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial”) (Nasdaq: BHF) announced today its financial results for the first quarter ended March 31, 2018. First Quarter 2018 Results The company reported a net loss available to shareholders of $67 million in the first quarter of 2018, or $0.56 on a per share basis, compared to a net […]

    A Fix Everyone Loves to Hate for the $4 Trillion Retirement Savings Gap: Opinion

    {May 8th, 2018} by Katherine Chiglinsky and Ben Steverman

    Saving for retirement is hard enough, but another difficult challenge is making sure the money lasts. Invest your nest egg conservatively, and you might not be able to stretch the money out, especially if you live longer than you expect. Putting more in the stock market could keep the pile growing—but once you stop adding […]

    State-registered investment advisers, mostly one and two-person offices, total 17,688

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

    The number of state-registered investment advisers grew slightly over the past two years to a total of 17,688, according to a statistical snapshot of the sector released on Monday by state regulators. In its first annual report about the investment advisers it regulates, the North American Securities Administrators Association said that the number of advisers increased by […]

    Life Application Activity Falls: MIB

    {May 7th, 2018} by Allison Bell

    MIB Group Inc. says overall life insurance application activity was 2.1% lower in April than it was in April 2017. The decrease followed a big gain in March. In March, the overall MIB activity level was 6.7% higher than in March 2017. Click HERE to read the original story via ThinkAdvisor. Activity fell in April […]

    A.M. Best Affirms Northwestern Mutual’s Financial Strength Rating

    {May 7th, 2018} by Northwestern Mutual

    MILWAUKEE, May 7, 2018 /PRNewswire/ — A.M. Best has affirmed Northwestern Mutual’s A++ (Superior) financial strength in a recently released report, the highest possible rating from the agency. The rating reflects Northwestern Mutual’s balance sheet strength as well as “very strong operating performance, very favorable business profile and very strong enterprise risk management.” According to A.M. Best, Northwestern Mutual […]

    Lincoln Financial Group’s Sean Hutchinson Recognized by LIMRA as a Rising Star of Retirement Under 40

    {May 7th, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today that Sean Hutchinson, vice president, Customer Experience Marketing, Retirement Plan Services, was recognized by LIMRA as a “Rising Star of Retirement Under 40.” This distinction honors young professionals who are not only adapting to the changes in the retirement industry, but who are successfully and creatively […]

    Insurers Rejoice At (Near) Death Of DOL Fiduciary Rule

    {May 5th, 2018} by Cyril Tuohy

    The Department of Labor fiduciary rule is just about dead and insurance executives are rejoicing, but not too loudly. “I think everybody is sort of cautious right now,” said Dennis R. Glass, president and CEO of Lincoln Financial, when asked about distribution partners in the wake of the latest regulatory developments. The Fifth Circuit Court […]

    If You’re a Broker-Dealer: Yes, You Do Need Life

    {May 5th, 2018} by Kenneth A. Shapiro

    Why should broker dealers bother having advisors market life insurance products? If this is the question, it’s the right one. No matter how you look at it, you may have more than enough on your plate now, so why get involved with life insurance, particularly when the product line is so different from what your […]

    Voya, Unum, Genworth Earnings Calls

    {May 4th, 2018} by Cyril Tuohy

    Voya Financial will save up to $130 million in annual expenses after the company sells its annuity business, chairman and CEO Rod Martin said Wednesday. Once the annuity sale closes in the second or third quarter, the company will review its life insurance portfolio. But it would be “premature to draw a conclusion that we’ve […]

    New York State Revises Best-Interest Reg For Annuities, Life Insurance

    {May 4th, 2018} by John Hilton

    New York State officials are pushing ahead with a revised best-interest amendment that applies to annuities and life insurance. State officials recently published an updated rule reflecting several changes produced from a 60-day comment period. The best-interest regulation is considered one of the toughest in the country, one that New York officials are lobbying the National Association […]

    Can He Make Insurance Cool?

    {May 4th, 2018} by Paul Feldman

    Patrick Bet-David is helping answer the biggest question in life insurance sales: Where will the next generation of successful agents come from? As the United States has grown more diverse, the life insurance industry clearly has not. “Pale, male and stale” is a common refrain about the typical agent these days. Not only are agents […]

    Buyers Look Past Marketing and Buy the Annuity’s Purpose

    {May 4th, 2018} by Jafor Iqbal and Todd Giesing

    Why and when do investors buy an annuity? How much do they invest, and in what types of annuities? Answers to these simple questions can give advisors and other financial professionals a clear understanding of how they can find their best clients and grow their annuity business. LIMRA Secure Retirement Institute’s 2017 Annuity Buyers Metrics […]

    Vice President, Fixed & Indexed Annuity Product Management.

    {May 4th, 2018} by N/A

     Job Description: Vice President, Fixed & Indexed Annuity Product Management. Job Purpose The VP, Fixed & Indexed Annuity Product Management is responsible for the development, implementation, launch and ongoing enhancements of Fixed and Indexed Annuity Products. Essential Job Duties & Responsibilities Evaluates all current products and features as well as competitor products and features. Defines […]

    NAIC Comments Show Increasing Opposition to Best Interest Model Law

    {May 3rd, 2018} by John Hilton

    A pair of major developments on the fiduciary rule front is motivating stronger opposition to the National Association of Insurance Commissioners’ annuity transactions model law. The NAIC initially shut off comments on its model law Jan. 20. Since then, its annuity suitability working group has been unable to come to a consensus on a model […]

    NAIFA Must Become Nimble, CEO Says 25

    {May 3rd, 2018} by Susan Rupe

    HARRISBURG, Pa. – Kevin Mayeux wants the National Association of Insurance and Financial Advisors to be more like BMW and less like Kodak or Blockbuster. Mayeux, NAIFA’s CEO, outlined some of the steps his organization is taking to become more nimble and relevant while making the rest of the world aware of what its members […]

    Americans Skeptical Financial Services Can Protect their Data

    {May 3rd, 2018} by Brian O'Connell

    Financial clients have little to no confidence in financial companies to protect their data, and are generally skeptical that corporations and government agencies can do so. According to a study by the New York City-based American Institute of CPAs (AICPA), 80 percent of Americans say ID theft is “likely” to cost them financially sometime in the […]

    Ding Dong, The DOL Fiduciary Rule Is (98%) Dead

    {May 3rd, 2018} by John Hilton

    The Fifth Circuit Court of Appeals rejected last-minute appeals by AARP and three states to intervene and re-argue the need to save the controversial Department of Labor fiduciary rule. Filed last week, AARP and the states (New York, California and Oregon) entered separate motions asking the court for an en banc review. In a 2-1 […]

    MetLife Issues Multipronged Plan To Find Missing Annuitants

    {May 3rd, 2018} by Cyril Tuohy

    MetLife has a multipronged plan to improve the way it tracks down missing annuitants, the company said Thursday. The actions come in the wake of a $510 million charge in the fourth quarter related to a group of 13,500 annuitants going back many years. “We believe these remediation steps will further strengthen our internal control […]

    SEC’s Clayton Pitches His Alternative to DOL Fiduciary Rule

    {May 3rd, 2018} by Dan Clark

    On the heels of announcing the Securities and Exchange Commission’s “Best Interest Rule,” SEC Chairman Jay Clayton came to Temple University on Wednesday to discuss the finer points of the plan, which is meant to give retail investors a better understanding of who is investing their money and how they are doing it. “Markets can […]

    NYDFS Proposes “Best Interest” Standard For Sellers Of Life Insurance And Annuity Products

    {May 3rd, 2018} by Steven D. Lofchie

    The New York Department of Financial Services (“DFS”) proposed amendments to New York’s existing suitability regulation in order to establish a “best interest” standard for the sellers of life insurance and annuity products. DFS issued the proposal in order to protect New York State consumers from receiving conflicted advice from agents, brokers and/or insurers regarding life insurance and annuity […]

    As curtains close on DOL fiduciary rule, SEC advice rule takes center stage

    {May 3rd, 2018} by Mark Schoeff Jr.

    It’s appropriate that the likely demise of the Labor Department’s fiduciary rule occurred during the same week that Tony Award nominations were announced. A day after the productions and performers competing for Broadway’s top honors were revealed, the 5th Circuit Court of Appeals denied efforts by AARP and three states to defend the DOL regulation in court. […]

    North American Company Expands Availability of WriteAway℠ Accelerated Underwriting

    {May 3rd, 2018} by North American Company for Life and Health Insurance

    CHICAGO, May 02, 2018 (GLOBE NEWSWIRE) — North American Company for Life and Health Insurance® has announced the expansion of WriteAway Accelerated Underwriting to permanent life insurance products. Previously offered only on term products, this faster and less invasive process allows for a simple online application process with an underwriting decision to be made in as […]

    Firm Sees When Consumers Are Hungry for Life Insurance

    {May 3rd, 2018} by Allison Bell

    Life insurance marketers may be having a harder time getting consumers’ attention in big U.S. cities this year. Analysts at iQuanti, a Jersey City, New Jersey-based market research and media campaign management firm, have included figures hinting at that possibility in a new analysis of Google local search volume data. Web users throughout the United States […]

    Lincoln Financial Group Completes Acquisition of Liberty Life Assurance Company of Boston

    {May 3rd, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)– Lincoln Financial Group (NYSE: LNC) announced today that it has completed its previously announced acquisition of Liberty Life Assurance Company of Boston, expanding Lincoln Financial’s group benefits market leadership position and expertise across all size employers. The transaction included reinsuring Liberty’s Individual Life and Annuity business to Protective Life Insurance Company. “With […]

    Why Some Advisors Don’t Like Selling Fee-Based Annuities

    {May 3rd, 2018} by Cyril Tuohy

    Regulators have pushed insurers to develop fee-based annuities, but financial advisors and brokers who sell them say these annuities remain clunky and aren’t as “clean” as commission-based annuities when the time comes to close a sale. Despite the onslaught of new fee-based annuities in the market over the past 18 months, sales of these products […]

    Jac McLean Joins New York Life Investment Management as Head of U.S. Distribution

    {May 2nd, 2018} by New York Life Insurance Company

    NEW YORK – April 19, 2018 – New York Life Investment Management (NYLIM) announced today that Jac McLean will join the company in June as head of U.S. Distribution. In this newly created role, he will focus on building and leading a world-class distribution organization and strategy across all third-party retail and intermediary channels in the U.S. […]

    Is There An ‘Insurance Go’ In Our Future?

    {May 2nd, 2018} by Lloyd Lofton

    In the bottom floor of Amazon’s headquarters in Seattle you will find a store called Amazon Go. It’s a store of the future where customers shop for groceries, pick items up and just walk out of the store without standing in a checkout line or interacting with a store clerk. This Amazon brick-and-mortar store is […]

    Delaware Sees Hidden Value in Genworth’s Annuity Unit

    {May 2nd, 2018} by Allison Bell

    One of the biggest headaches for executives at Genworth Financial Inc. could turn out to be a blessing for insurance agents, Genworth annuity holders and China Oceanwide Holdings Group Co. Ltd.: Regulators in Delaware think the company’s long-term care insurance (LTCI) unit is more valuable than potential buyers realize. The battle over the value of […]

    Lincoln Financial Group Reports First Quarter 2018 Results

    {May 2nd, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the first quarter of 2018 of $367 million, or $1.64 per diluted share available to common stockholders, compared to net income in the first quarter of 2017 of $435 million, or $1.89 per diluted share available to common stockholders. First quarter adjusted income […]

    Annuities underutilized for tax-free LTC benefits, data suggests

    {May 2nd, 2018} by Insurance Forums Staff

    About 18% of all U.S. households own a deferred annuity, estimates the LIMRA Secure Retirement Institute, yet data suggest many annuities will never be activated for monthly income, leaving potential tax consequences for beneficiaries. Many of these individuals can benefit by learning more about exchanges under Internal Revenue Code section 1035 of the Federal Tax […]

    SE2 Named One of CIO Applications’ Top 25 InsurTech Companies for 2018

    {May 2nd, 2018} by SE2

    TOPEKA, Kan.–(BUSINESS WIRE)–SE2, a leading technology and third-party administration (TPA) company for the North American Life and Annuity (L&A) insurance industry has been named by CIO Applications as one of the Top 25 InsurTech Companies for 2018. The CIO Applications editorial board, along with a panel of CIOs, CEOs, CTOs and analysts, evaluated insurtech providers […]

    DOL Rule Rehearing Is ‘Unjustifiable’: Eugene Scalia

    {May 1st, 2018} by Melanie Waddell

    The U.S. Chamber of Commerce, Financial Services Institute and the Securities Industry and Financial Markets Association told the U.S. Court of Appeals for the 5th Circuit on Monday to deny the motions filed Thursday by AARP and state attorneys general to intervene in an appeals court ruling to vacate the Labor Department’s fiduciary rule. Eugene Scalia, the lead Gibson, […]

    Variable Annuities, Down But Not Dead

    {May 1st, 2018} by Cyril Tuohy

    Variable annuity sales in 2017 fell 10 percent and are down 50 percent compared to a decade ago but there’s reason to be more hopeful in 2018, a Morningstar expert said. “It looks like some of the underlying factors are moving in a direction that would indicate more VA sales,” said John McCarthy, senior product […]

    Market Intelligence Analyst

    {May 1st, 2018} by Great American Insurance Group

    Job description   Research, analyze and synthesize information from key external sources to provide actionable deliverables that support strategic decision-making at all levels of the organization. Perform ongoing rigorous evaluation of market trends and forecasts by identifying, highlighting and updating issues, threats and opportunities while developing actionable insights. Identify, monitor, analyze and disseminate information on […]

    Justice Department lets deadline to defend DOL fiduciary rule pass. What’s next?

    {May 1st, 2018} by Mark Schoeff Jr.

    A key deadline has passed without the Labor Department acting to defend its fiduciary rule in court. But the measure isn’t dead yet. The Department of Justice, acting on behalf of the DOL, had until Monday to appeal a March 15 split decision in the 5th Circuit Court of Appeals to strike down the regulation, which […]

    Empower Women To Protect Their Incomes

    {May 1st, 2018} by Jill Frohardt

    Years from now, when we look back on 2017, many will remember it as the year the conversation shifted around gender inequality. Last year, women from all walks of life amplified the national conversation around pay discrepancies and fewer advancement opportunities when compared with their male peers. This momentum about women and the workplace has […]

    DOL Fiduciary Rule One Step Closer To History

    {May 1st, 2018} by John Hilton

    The federal government missed a deadline Monday to appeal a ruling tossing out the controversial Department of Labor fiduciary rule. The decision means that the March 15 Fifth Circuit Court of Appeals ruling is slated to take effect May 7. A few hurdles still remain. Last week, AARP filed an appeal of the Fifth Circuit […]

    Clients Want To Talk About Annuities, AXA US Says

    {May 1st, 2018} by Karen Demasters

    Half of financial advisors’ clients are not talking with advisors about guaranteed lifetime income products such as annuities, said AXA US, a financial services company that handles annuity products and provides other financial services. This is despite the fact that 80 percent of the people surveyed by AXA said they would be interested in such […]

    Ameriprise Shareholders Reject Exec Pay Plan

    {May 1st, 2018} by Janet Levaux

    The majority of Ameriprise Financial shareholders — 75% — gave a thumbs-down to the firm’s executive pay plan for 2017. The financial services firm acknowledged the nonbinding vote in a recent filing with the Securities and Exchange Commission. The vote was roughly 86 million to 29 million with about 4.5 million abstentions. Click HERE to read […]

    SIFMA, FSI and allies seek to block rehearing of DoL fiduciary rule

    {May 1st, 2018} by Kenneth Corbin

    A coalition of powerful financial services trade groups is seeking to block a federal court from reconsidering the Department of Labor’s fiduciary rule, asking the court to make its March ruling vacating the ruling the last word on the matter. In a motion filed on Monday, FSI, SIFMA, the U.S. Chamber of Commerce and other allied groups […]

    New Fixed-Index Product By Allianz Life

    {May 1st, 2018} by FA Staff

    Allianz Life Insurance Company of North America has introduced two new fixed-index universal life insurance policies, the Allianz Life Pro+ Elite and Allianz Asset Pro+. Allianz Life Pro+ Elite is designed for traditional life insurance agents and financial professionals familiar with selling life insurance, and it beefs up the popular Allianz Life Pro+ product by […]

    Unpacking the Fiduciary Rule Proposal: Lines Drawn, Standards Raised, but Still More to Play Out

    {May 1st, 2018} by Rich Blake

    On April 18, the SEC released its much-anticipated proposed set of fiduciary rules for broker/dealers. As the 90-day public comment period now gets underway, there are several key components of the proposal stirring debate with some particularly thorny issues — such as precisely how “best-interest” standards will be defined — that are still in need […]

    How structured annuities are bucking a downward trend

    {May 1st, 2018} by Donald Jay Korn

    There’s a bright spot in the otherwise lagging annuity market. Fears of federal fiduciary rules and paltry investment yields dealt a double blow to the annuity market overall last year, as sales dipped 8%. Amidst the gloom, however, the lone bright spot was structured annuity sales, which rose 26% to $9.2 billion year over year, […]

    Paw Paw insurance agent to face charges of embezzling from client with dementia

    {April 30th, 2018} by Newschannel 3

    PAW PAW, Mich. — A Paw Paw insurance agent will face criminal charges following an investigation from the Elder Financial Crimes Unit in Michigan. Michigan Attorney General Bill Schuette said Brian Lietzau, 57, will be charged with seven felonies for abusing his position when given power of attorney for a woman suffering from dementia. Lietzau, the […]

    John Hancock Launches Multi-Year Project to Implement Single, Integrated Digital Platform for Life and Annuity Customers

    {April 30th, 2018} by John Hancock

    BOSTON, April 30, 2018 /PRNewswire/ — John Hancock today announced the launch of a four-year project to implement a single, integrated platform to provide its life and annuity customers with a holistic and digital experience as part of its broader ambitions to digitize operations. The company has selected Infosys, a global leader in consulting, technology and next-generation services, to accomplish […]

    On the Matter of Indexed Annuity Performance…

    {April 30th, 2018} by Sheryl J. Moore

    Recently, a vendor released a “research” paper on indexed annuity performance. I will refer to said “research” as a paper, as I have concerns with using the “research” terminology. Research– studious inquiry or examination; especially: investigation or experimentation aimed at the discovery and interpretation of facts, revision of accepted theories or laws in the light […]

    Financial Advisors Unload on SEC ‘Best Interest’ Rule

    {April 30th, 2018} by John Hilton

    The Securities and Exchange Commission is under fire from the advisory community for its “Regulation Best Interest” rule designed to rein in broker-dealers. Tentatively approved April 18, the rule is seen as a middle ground of sorts between full fiduciary status and the lighter suitability standard that brokers operate under now. In fact, some analysts […]

    SEC advice rule faces arduous journey

    {April 30th, 2018} by Blaine F. Aikin

    On April 18, the Securities and Exchange Commission released its much-anticipated “fiduciary” rule proposal, “designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access to a variety of types of relationships and investment products.” Click HERE to read the full story via InvestmentNews; registration required. 

    Nationwide Advisory Solutions Launches New Website Redesigned using Advanced Analytics and Artificial Intelligence to Meet Unique Needs of RIAs, Fee-Based Advisors and Clients they Serve

    {April 30th, 2018} by Nationwide Advisory Solutions

    LOUISVILLE, Ky., April 30, 2018 /PRNewswire/ — Nationwide Advisory Solutions, formerly known as Jefferson National, has launched its new website expressly redesigned to meet the unique needs of the rapidly growing market of Registered Investment Advisors (RIAs), fee-based advisors and the clients they serve. New “demand-driven” features have been developed to serve independent advisors the way they want […]

    OHIO! Competitive Intelligence Analyst career opening

    {April 30th, 2018} by Sheryl J. Moore

    The Competitive Intelligence Team provides competitor and industry information to internal customers at all levels of the organization to help inform key product development, sales, service and marketing decisions. As a member of this team, the Competitive Intelligence Analyst is responsible for collecting, conducting basic analysis of, and communicating competitive intelligence related to the product offerings […]

    The Most Important Question To Ask When Buying Whole Life Insurance

    {April 29th, 2018} by Mark Avallone

    You may have heard the expression, “Buy ‘term’ and invest the difference.” While this axiom makes sense for many, there are times when whole life insurance is appropriate. It may sound odd, but a good question to ask is this: “Do I want to have life insurance when I die?” If you answer yes, then […]

    Aflac Execs Talk About U.S. Distribution Efforts

    {April 28th, 2018} by Allison Bell

    An insurer known for selling individual insurance products at the worksite says its sales of true group insurance plans have been growing. Executives from Aflac Inc. talked a little about the shift Thursday, during a conference call with securities analysts. An analyst asked the executives about a drop in sales of the company’s individual worksite short-term disability […]

    AARP, States File for Rehearing of DOL Fiduciary Case

    {April 27th, 2018} by Melanie Waddell

    AARP along with state attorneys general from California, Oregon and New York filed motions Thursday to intervene in an appeals court ruling to vacate the Labor Department’s fiduciary rule. The groups asked the U.S. Court of Appeals for the 5th Circuit for a rehearing en banc — before all the judges of the court. On March 15, a three-judge […]

    15 Things You Need to Know Now About Annuities

    {April 27th, 2018} by Coryanne Hicks and Philip Moeller

    With the retirement playing field littered with crushed investments and dreams, the safety of guaranteed income streams looks more attractive each day. Some annuities can provide such a guarantee. If you ask an insurance company to define annuities, the marketing phrase the insurer will probably use is: “Annuities can produce an income stream you can’t outlive.” That […]

    Allianz Life Empowers Employees to Choose Charities for $100,000 in donations

    {April 27th, 2018} by Allianz Life Insurance Company of North America

    MINNEAPOLIS, April 25, 2018 – With thousands of nonprofits located in the Twin Cities, choosing which organizations receive corporate dollars can be a challenging task. That’s why Allianz Life Insurance Company of North America (Allianz Life®) doesn’t do it alone; they solicit input from employees. The votes for 2018 are in: Allianz Life will donate […]