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  • How A 172-Year-Old Company Is Innovating Life Insurance: Interview With CEO Eileen McDonnell

    {February 14th, 2019} by Robert Reiss

    When it comes to the life insurance industry, the word innovation may not come to mind. The Penn Mutual Life Insurance Company, which has been in business since 1847, is demonstrating that no matter your age, it’s never too late to think outside the box and innovate your way to the top. At Penn Mutual innovation […]

    3 Cases for Annuities in a Turbulent Market

    {February 14th, 2019} by Jason Allen, CFP

    While there’s nothing unusual about volatility in stock markets, the big swings up and down we’ve experienced recently can amplify anxiety for those clients who are nearing retirement. Whether you are planning for the next correction or the next bear market, advisor-client conversations can focus around answering the following series of questions: What are the […]

    Great American’s Annuity Customers Share Their Secrets to a Great Retirement

    {February 13th, 2019} by Great American Insurance Group

    CINCINNATI–(BUSINESS WIRE)–Great American Insurance Group, a leading provider of fixed and fixed-indexed annuities through its member companies, recently launched “Great Retirements,” a five-part video series that explores the makings of a great retirement. The series provides a glimpse into the lives of five Great American Annuity customers, showcasing retirement experiences from modest Midwestern cities to […]

    Shifting Consumer Needs and Expectations Drive New Life Insurance Product and Underwriting Enhancements from Lincoln Financial Group that Advance the Life Insurance Business Model

    {February 13th, 2019} by Business Wire

    RADNOR, Pa.–(BUSINESS WIRE)–In response to increasing consumer preference for holistic financial solutions that meet multiple planning needs, and demand for ease and speed of business, today Lincoln Financial Group introduced several new life insurance products that deliver greater value and flexibility, as well as digital underwriting enhancements that simplify and expedite the buying process. The […]

    American Equity Reports Fourth Quarter and Full Year 2018 Results

    {February 13th, 2019} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs), today reported fourth quarter 2018 net income of $53.8 million, or $0.59 per diluted common share, compared to net income of $36.8 million, or $0.41 per diluted common share, for fourth quarter 2017. For the […]

    Variable Annuities are Still Being Recommended — Despite Ohio National Fallout

    {February 13th, 2019} by Rita Raagas De Ramos

    It appears many top retirement advisors who recommend variable annuities to their plan sponsor clients haven’t soured on the product despite the wider ramifications of Ohio National Financial Services’ decision to terminate its variable annuities selling agreements with broker-dealers and stop paying trailing commissions. Surveyed in December by FA-IQ sister publication Ignites Research, most of the top retirement advisors […]

    DPL Financial Partners Welcomes Jackson to RIA Insurance Network

    {February 13th, 2019} by DPL Financial Partners

    LOUISVILLE, Ky.–(BUSINESS WIRE)–DPL Financial Partners (“DPL”), the insurance network for registered investment advisors (“RIAs”), and Jackson National Life Insurance Company® (“Jackson®”) announced that they are teaming up to bring the carrier’s popular advisory annuity products to fee-only advisors in what represents Jackson’s first distribution partnership targeting the independent RIA channel. Three of the carrier’s commission-free products are […]

    Insurance & Millennials: A Coming Of Age

    {February 13th, 2019} by Jamie Johnson

    What really matters to Millennials? What drives their behavior and their actions? We learned that many Millennials felt that their hyper-digital lives had not only lead to burnout and digital fatigue, but also left them feeling lonely, isolated, and disconnected from their communities. They were looking for ways to feel more connected to their communities […]

    Life Insurance & The New Distribution

    {February 13th, 2019} by Brian Greenberg

    The year 2018 laid the groundwork for big shifts in the life insurance landscape that will decidedly benefit consumers in the New Year. And it seems shifts are sorely needed with more than 40 percent of Americans not having any type of life insurance, according to Foresters Financial. While the industry is shifting at a […]

    Brighthouse Prepares to Launch Life-LTC Hybrid

    {February 13th, 2019} by Allison Bell

    Brighthouse Financial Inc. is preparing to introduce an indexed universal life (IUL) insurance policy designed for the long-term care (LTC) planning market. The new Brighthouse SmartCare IUL policy will offer purchasers access to a rider that can provide a pool of LTC benefits with a value linked to the performance of an investment index. Eric […]

    4 Reasons Selling Annuities Is a Stable Strategy

    {February 13th, 2019} by Chris Conklin

    Whether it’s from friends, family or co-workers, we’ve all heard the saying before: the only constant is change. This is especially true in the new year, as producers nationwide are reflecting on past results and adapting their sales strategies. As you settle into 2019, consider altering your sales approach based on the current economic climate. […]

    Lincoln Execs Are Happy, and 4 More Life & Annuity Earnings Updates

    {February 13th, 2019} by Allison Bell

    The fourth quarter of 2018 may have been a rollercoaster, but executives at the individual life and annuity issuers that reported earnings in the past week seem to enjoy rollercoasters. Dennis Glass, the president of Lincoln National Corp., which uses Lincoln Financial Group as its marketing name, was especially cheerful about the state of  the market. LIMRA is […]

    Lincoln Financial Updates Life Products

    {February 13th, 2019} by Allison Bell

    Lincoln Financial Group is introducing a new indexed universal life (IUL) insurance product: he Lincoln WealthAccumulate Indexed Universal Life 2019 policy. The new IUL policy offers four different indexed account options, with all of the options based on the S&P 500 Index. Lincoln Financial is selling the policy with a nine-year surrender charge period. The […]

    Start Me Up: Annuity Group To Sponsor Rolling Stones’ Tour

    {February 13th, 2019} by John Hilton

    The annuity focused Alliance for Lifetime Income has signed on as the sole sponsor of The Rolling Stones’ 2019 “No Filter” U.S. stadium tour. The tour kicks off April 20 at the Hard Rock Stadium in Miami. According to the Alliance for Lifetime Income website, the group saw the sponsorship opportunity as too good to pass […]

    NAIC Group Puts IUL Illustration ‘Multipliers’ Under Microscope

    {February 13th, 2019} by John Hilton

    State insurance regulators debated risk and reward and how much of the former consumers should take on in pursuit of the latter when purchasing indexed universal life products.  National Association of Insurance Commissioners’ subgroup revealed the depths of members’ disagreement during its first conference call today on IUL illustrations. The IUL illustration subgroup has a […]

    Maryland senators introduce fiduciary standard for brokers

    {February 13th, 2019} by Ian Wenik

    Maryland is hopping on the train of states seeking to institute their own fiduciary standards for broker-dealers. Maryland is the latest state seeking to institute their own fiduciary standards for broker-dealers ahead of the Securities and Exchange Commission’s (SEC) Regulation Best Interest proposal. On Monday, February 4, four state senators introduced a bill, the Financial Consumer […]

    Jackson National looks to expand distribution of fee-only annuities

    {February 13th, 2019} by Greg Iacurci

    Jackson National Life Insurance Co., the largest annuity seller, is broadening the distribution of its fee-only annuities to try to capitalize on the growing ranks of independent registered investment advisers. Click HERE to read the full story via InvestmentNews. 

    New CFP Board ads feature lesbian couple

    {February 13th, 2019} by Mark Schoeff Jr.

    Television ads launched Monday by the Certified Financial Planner Board of Standards Inc. feature a lesbian couple, a move intended to promote CFPs to the gay community. Click HERE to read the full story via InvestmentNews. 

    SEC commissioner Peirce wants to move ahead on advice reform quickly

    {February 13th, 2019} by Mark Schoeff Jr.

    Securities and Exchange Commission member Hester Peirce said Tuesday she wants the agency to complete investment advice reform soon, an indication that a rule could be coming by summer. Click HERE to read the full story via InvestmentNews. 

    Maryland bill would impose fiduciary duty on brokers, insurance reps

    {February 13th, 2019} by Mark Schoeff Jr.

    Legislation introduced this week by Maryland state lawmakers would raise investment advice standards for brokers and insurance representatives — marking an expansion of coverage compared to a Securities and Exchange Commission proposal. Click HERE to read the full story via InvestmentNews. 

    Retirement savings bill re-introduced in House with bipartisan backing

    {February 13th, 2019} by Mark Schoeff Jr.

    Legislation that would help small businesses offer retirement plans to their employees and ease the use of annuities in them was re-introduced in the House on Wednesday with bipartisan backing. Click HERE to read the full story via InvestmentNews.

    WealthVest Announces Bradley Yoshida Assumes Regional Director Position

    {February 12th, 2019} by WealthVest

    BOZEMAN, Mo., Feb. 12, 2019 /PRNewswire/ — WealthVest continues to grow their team of wholesalers by hiring Bradley Yoshida. Bradley will cover the Arkansas/Tennessee area helping advisors with retirement planning utilizing fixed and fixed index annuities. WealthVest demonstrates traditional face-to-face wholesaling as the #1 independently owned distributor of fixed and fixed index annuities in financial institutions. Brad brings 8+ years of […]

    Cognizant launches tech innovation hub in Boulder, Colorado

    {February 12th, 2019} by Consulting.us

    New Jersey–based technology and management consultancy Cognizant opened an Accelerator global technology center and innovation hub in Boulder on February 7. The Cognizant Accelerator division’s business and tech experts spearhead new technology development and invest in emerging external startups. The new center will employ 100 professionals. Cognizant Accelerator’s opening was attended by numerous state and local […]

    Ric Edelman’s List of Industries at Risk

    {February 12th, 2019} by Bernice Napach

    Ric Edelman is on a mission to warn financial advisors that the world they live and operate in is poised to change dramatically and exponentially within the next 20 years, if not sooner. Many of their clients will live beyond 100 years old due to advances in medicine and genomics, retirement will become obsolete and […]

    What Jay-Z Wants, Finra Insists It Already Has

    {February 12th, 2019} by Rita Raagas De Ramos

    An ongoing dispute involving rapper and entrepreneur Jay-Z and a brand management company that’s set to be heard before the American Arbitration Association has pointed the spotlight on how critical it is to have arbitrator diversity. In November Jay-Z asked the Supreme Court of the State of New York – in a filing under his legal name, Shawn Carter – to halt arbitration proceedings initiated by Iconix Brand […]

    Life Activity Climbs — for Two Age Groups

    {February 11th, 2019} by Allison Bell

    Americans ages 60 and older pumped a torrent of applications into U.S. life insurers in January. Americans ages 45 through 59 sent in more applications. Americans ages 44 and younger continued to back away. MIB Group Inc. has given that picture of U.S. individual life application activity in a new batch of activity data. Click HERE […]

    Smaller Life Insurers Continue Fight for Consumer Mindshare

    {February 11th, 2019} by Allison Bell

    Executives at small and midsize life insurers are still hungry for ways to stand out on social media services, and on mobile devices. Many of the presenters who spoke last week in Destin, Florida, at the Life Insurers Council’s annual meeting and marketing conference, talked about strategies smaller life insurers can use to capture consumer mindshare. The […]

    Integrity Marketing Acquires Final Expense Life Distributor

    {February 11th, 2019} by Allison Bell

    Integrity Marketing Group LLC says it has acquired NEAT Management Group from Tim McCoy, the owner. Integrity Marketing is a privately held, Dallas-based life and health products distributor with ties to about 140,000 independent agents. NEAT is an Austin, Texas-based distributor of final expense life insurance products. NEAT Management’s History Tim McCoy’s grandfather, J.H. Mac […]

    Edmund Murphy III to Lead Great-West’s US Life Unit

    {February 11th, 2019} by Allison Bell

    A Canadian life insurer has named a new head for its U.S. retirement business. Great-West Lifeco Inc. says Edward Murphy III will succeed Robert Reynolds as the president and chief executive officer of Great-West Life & Annuity Insurance Company. Great-West Life is the parent of Empower Retirement, Great-West’s U.S. retirement services unit. Reynolds, who is […]

    Insurers Are Competition for the PBGC: GAO Chief

    {February 11th, 2019} by Allison Bell

    The private insurers in the group annuity market are taking paying pension guarantee customers away from the Pension Benefit Guaranty Corp. (PBGC) Gene Dodaro, the comptroller general of the United States, talked, briefly, about the competition between the PBGC and the private “pension risk transfer” market Wednesday, at a hearing on financial security in retirement […]

    How to Prepare to Leave a Legacy: Study

    {February 10th, 2019} by Bernice Napach

    Death is not taboo, but failing to prepare for it financially is looked down upon. Those are just two of the many findings of a new report from Merrill Lynch in partnership with Age Wave that may interest advisors, especially those with clients who are middle-aged and older. The study of 3,000 adults, with a […]

    AM Best Downgrades Issuer Credit Rating of EquiTrust Life Insurance Company

    {February 10th, 2019} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating of B++ (Good) of EquiTrust Life Insurance Company (EquiTrust) (Chicago, IL). The outlook of these Credit Ratings (ratings) is stable. The Credit Ratings (ratings) reflect EquiTrust’s balance sheet strength, which AM Best categorizes […]

    Paterson woman faces charges in $175K insurance fraud case

    {February 10th, 2019} by Joe Malinconico, Paterson Press

    PATERSON – A 45-year-old Paterson woman is accused of impersonating two people in an attempt to steal $175,000 from their insurance annuity policies, according to New Jersey Attorney General Gurbir Grewal. The suspect, Vashanta Stroud-Bennett, was charged with insurance fraud, theft by deception and impersonation in an indictment rendered by a state grand jury in […]

    New York Insurers Can Evaluate Your Social Media Use—If They Can Prove Why It’s Needed

    {February 10th, 2019} by Leslie Scism

    New York’s top financial regulator is going to allow life insurers to use data from social media and other nontraditional sources when setting premium rates, though the insurers will have to prove the information doesn’t unfairly discriminate against certain customers. New York is the first state to set specific guidance governing how life insurers use algorithms […]


    {February 10th, 2019} by Angela Chen

    Don’t post photos of yourself smoking on social-media sites. Do post photos of yourself running.” These two suggestions appear in a recent Wall Street Journal article about New York state’s new rules for how life insurance companies can use public data to help set premiums. Such tips — under the heading “what you pay for life insurance could depend […]

    Annuities group signs up for Rolling Stones tour

    {February 10th, 2019} by InvestmentNews

    The Alliance for Lifetime Income, an organization that’s trying to improve the public perception of annuity products, will be the sole sponsor of the Rolling Stones’ U.S. tour later this year. Click HERE to read the full story via InvestmentNews; registration required.

    Lincoln Financial Group Reports Fourth Quarter and Full Year 2018 Results

    {February 10th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the fourth quarter of 2018 of $399 million, or $1.80 per diluted share available to common stockholders, compared to net income in the fourth quarter of 2017 of $816 million, or $3.67 per diluted share available to common stockholders. Fourth quarter adjusted income […]

    Wealth tax proposed by Elizabeth Warren could be illegal

    {February 10th, 2019} by Greg Iacurci

    Sen. Elizabeth Warren set the financial advice industry abuzz last week when the presidential hopeful proposed a “wealth tax” on ultra-rich Americans.​ Click HERE to read the full story via InvestmentNews.

    Ohio National announces increased earnings

    {February 10th, 2019} by Ohio National Financial Services

    CINCINNATI, Feb. 08, 2019 (GLOBE NEWSWIRE) — Ohio National Financial Services today announced a 6 percent increase in 2018 core earnings and released positive 2018 financial results as it closes out a five-year strategy. The company also grew total revenue (excluding realized gains and losses) by 9 percent and increased sales in core product lines. […]

    Symetra Donation to The Sophia Way Will Help Keep Eastside Emergency Shelter for Women Open Year-Round Again in 2019

    {February 10th, 2019} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra, a national provider of employee benefits, annuities and life insurance, has committed a second $100,000 donation to The Sophia Way, a Bellevue, Washington-based nonprofit dedicated to helping end homelessness for single adult women in King County. Like the company’s June 2018 gift, the funding will allow the Eastside Emergency Shelter for Women […]

    Securian Financial Introduces Affordable, Protection-Focused IUL with No-Lapse Guarantee

    {February 6th, 2019} by Securian Financial

    ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial has launched Value Protection Indexed Universal Life (IUL), a low-cost, protection-focused indexed universal life insurance policy with a built-in no-lapse guarantee. A leading accumulation-focused IUL carrier since it entered the market in 20061, Securian Financial is expanding its IUL portfolio and planting a flag in the protection space with the […]

    Q4 Earnings Vortex Report: Great American, Ameriprise, Principal

    {February 6th, 2019} by Allison Bell

    The first life and annuity issuers to report their fourth-quarter earnings say the recent stock market volatility storm knocked some twigs down but left roofs intact. Those issuers are American Financial Group Inc., which is the parent of Great American Financial Group; Ameriprise Financial Inc.; and Principal Financial Group Inc. The companies faced a 14% […]

    Principal Financial Group warns of more job cuts after ‘challenging’ quarter

    {February 6th, 2019} by Kevin Hardy and Donnelle Eller

    After laying off employees in late 2018, Principal Financial Group is warning workers to expect more job losses this year. The bleak assessment came Wednesday after Principal reported its profits dropped by more than half a billion dollars in the fourth quarter of last year, falling short of Wall Street analysts’ expectations. The Des Moines-based financial services company’s fourth-quarter earnings […]

    Ohio National: We Can Legally Terminate Selling Agreements

    {February 6th, 2019} by John Hilton

    Ohio National is asking a federal court to dismiss a lawsuit challenging its controversial decision to terminate trail commissions on variable annuities. The insurer bases its defense on the word “and.” In its request for summary judgment in the lawsuit filed by Veritas Independent Partners, a broker-dealer, Ohio National attorneys cite the selling agreement: Click […]

    We Need a More Muscular Life Happens

    {February 6th, 2019} by David F. Woods

    ThinkAdvisor Life/Health recently ran an article about the decline in life insurance sales to folks under 40. There are a number of reasons for this trend. Among them, I believe, is the lack of financial support for Life Happens. I have spent 58 years in this business and am a life member of the Million Dollar […]

    Four Reasons Life Insurance Should Be One Of Your 2019 Financial Resolutions

    {February 6th, 2019} by Peter Colis

    Life insurance is one of life’s least understood financial necessities. By design, it is intended to provide security for people in one of life’s most difficult emotional and financial situations: the passing of a loved one. Yet, too often, people view paying for life insurance as an unnecessary precaution or expense. This misconception is largely […]

    American Financial Group, Inc. Announces Fourth Quarter and Full Year Results

    {February 6th, 2019} by American Financial Group, Inc.

    CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) today reported a 2018 fourth quarter net loss attributable to shareholders of $29 million ($0.33 per share) compared to earnings of $166 million ($1.84 per share) for the 2017 fourth quarter. Results for the fourth quarter of 2018 include $188 million ($2.08 per share) in non-core net realized […]

    T. Rowe Price: Nearly 7 In 10 Retirees Say They Live As Well Or Better In Retirement Than During Their Working Years

    {February 6th, 2019} by T. Rowe Price

    BALTIMORE, Feb. 5, 2019 /PRNewswire/ — More than two-thirds of retirees say they live as well or better in retirement as they did when they were working, according to a recent study focused on retirees conducted by T. Rowe Price. Meanwhile, only 39 percent of current workers believe they will live as well or better in retirement. […]

    Juvenile Life Insurance Market Is Thriving Worldwide: Key Manufactures and Statistics Analysis- Allianz, AXA, Nippon Life Insurance, American Intl. Group, Aviva

    {February 6th, 2019} by HTF Market Intelligence Consulting Pvt. Ltd.

    Edison, NJ — (SBWIRE) — 02/02/2019 — A new business intelligence report released by HTF MI with title “Global Juvenile life insurance Market Size, Status and Forecast 2019-2025” has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global […]

    MassMutual’s LifeScore Labs℠ Launches Consumer-Facing Risk Scoring Tool

    {February 6th, 2019} by MassMutual

    BOSTON–(BUSINESS WIRE)–Creating an online experience aimed at empowering consumers to better understand their individual insurance risks before applying for life insurance, LifeScore Labs℠, the risk-scoring insurtech subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual), today announced the launch of MyLifeScore360℠. MyLifeScore360 is a free online risk scoring tool that provides insights to how an insurance carrier […]

    An FIA Designed By RIAs

    {February 6th, 2019} by Kerry Pechter

    With the new “ClearLine” fixed indexed annuity (FIA), Security Benefit Life and DPL Financial Partners have built a product based on what they heard first-hand from the registered investment advisory (RIA) firms that pay an annual administrative fee to be part of DPL’s nearly year-old commission-free insurance sales platform. Click HERE to read the full […]

    Life Insurers Can Use Social Media Posts To Determine Premiums, As Long As They Don’t Discriminate

    {February 6th, 2019} by Jessica Baron

    New York’s Department of Financial Services (NYFS) has released new guidelines that will allow life insurance companies to use data from customers’ social media posts to determine their premiums, and experts say that these rules could potentially extend beyond New York’s borders. The new guidelines suggest that companies can use data from other “non-traditional” sources as well, […]

    National Western Life Group, Inc. Announces Completion of Acquisition of Ozark National Life Insurance Company

    {February 6th, 2019} by National Western Life Group, Inc.

    AUSTIN, Texas, Feb. 1, 2019 /PRNewswire/ — Ross R. Moody, Chairman, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today that its wholly owned subsidiary, National Western Life Insurance Company (“National Western” or “NWLIC”), has completed its previously announced acquisition of Ozark National Life Insurance Company (“Ozark National”) and N.I.S. Financial Services, Inc. […]

    Anita Fox Takes Over at Michigan Department

    {February 6th, 2019} by Allison Bell

    Anita Fox recently took over as the director of the Michigan Department of Insurance and Financial Services. The Michigan department has about 350 employees, an annual insurance regulation budget of about $33 million, and about $41 million in annual insurance regulation-related revenue, according to the National Association of Insurance Commissioners. The department oversees credit unions, […]

    Compare Variable Annuities With Non-Guaranteed Portfolios: Idea File

    {February 6th, 2019} by Allison Bell

    Hedgeness Inc. has an idea: Offer insurers, financial professionals, and others interested in variable annuities a data analysis tool they can use to compare existing annuity contracts with one other; existing contracts with hypothetical contracts; and real contracts with the performance of investment portfolios that come without any guarantees. The Chicago-based company is already using the tool […]

    Labor Department Reports Insurance Industry Gained 2,000 Jobs in January

    {February 5th, 2019} by Best's News Service

    WASHINGTON – The insurance industry gained 2,000 jobs in January over December, an increase of 7% even as the overall unemployment rate edged up, according to preliminary figures from the U.S. Labor Department’s Bureau of Labor Statistics. On an annual basis, overall insurance industry employment for January 2019 was 2,704,100, a preliminary increase of 32,300 […]

    Generation Next

    {February 5th, 2019} by Kate Smith

    Of the 50 chief executive officer searches The Jacobson Group has done in the past four years, each was to replace a baby boomer. “Literally, all have been the result of retirement,” Greg Jacobson, co-CEO of The Jacobson Group, said. It’s a trend that’s bound to continue. And it’s also a trend that could prove […]

    Life Insurance or Life Invasion?

    {February 5th, 2019} by David Wilken

    Consumers like discounts — there’s no secret about that. And consumers shopping for insurance are no exception. Our recent survey revealed that nine out of 10 consumers (92 percent) would be motivated to maintain a specific weight level, and four out of five (81 percent) would be more likely to have an annual checkup, if […]

    The Impact of Cognitive Decline on Families’ Finances: RBC Survey

    {February 5th, 2019} by Emily Zulz

    As cognitive decline becomes an increasingly significant part of Americans’ lives, it is having a massive impact on families’ finances, according to a new study from RBC Wealth Management- U.S. According to the Alzheimer’s Association, 5.7 million Americans are living with Alzheimer’s disease, a figure that is expected to reach 14 million by 2050. As […]

    Finra exams to probe compliance with elder abuse rules

    {February 5th, 2019} by Greg Iacurci

    Finra examinations will soon start probing broker-dealers’ compliance with new rules issued a year ago that are meant to protect elderly clients from financial abuse and exploitation. Click HERE to read the full story via InvestmentNews; registration required. 

    New Jersey Supreme Court Hears Life Settlement Case

    {February 5th, 2019} by Allison Bell

    A New Jersey Supreme Court case could affect investment firms that buy life insurance policies from life settlement companies without verifying how the policies came to exist. Sun Life Assurance Company of Canada, an arm of Sun Life Financial Inc., and an arm of Wells Fargo & Company are battling over the fate of a $5 million […]

    Investment Advisor’s Top 16 Women in WealthTech

    {February 5th, 2019} by Janet Levaux

    There are lots of women in different IT leadership roles throughout the financial services industry. So many in fact, that we had to limit the group highlighted here to those making a significant impact on wealth management at a select number of firms. For the inaugural top Women in WealthTech list, we chose to present […]

    Americans Haven’t Thought Much About Life Insurance: Survey

    {February 5th, 2019} by Michael S. Fischer

    Americans worry about providing for their families in the event of their death, but most are unaware of many of the benefits life insurance can provide, according to a new survey from Edward Jones, a financial services firm, and Life Happens, a nonprofit consumer education group. In the same survey, a quarter of survey respondents said their biggest […]

    Florida Official to Fill NAIC Vice President Vacancy

    {February 5th, 2019} by Allison Bell

    The regulator members of the National Association of Insurance Commissioners (NAIC) have elected David Altmaier to be the NAIC’s vice president. Altmaier has been the commissioner in Florida since 2016. Altmaier runs the Florida Office of Insurance Regulation, an agency with a staff of 292. He is also the 2019 chair of the NAIC’s Financial […]

    Selling life insurance in the foreign nationals market

    {February 5th, 2019} by Allan Gersten

    The Foreign Nationals market for life insurance is an advisor’s dream. It’s huge, the prospects are motivated, and offers significant rewards. Even with all this, it’s far from overcrowded. Life insurance advisors aren’t flocking to it. They talk about it and some indicate an interest, but there is little action compared to the opportunities. Then, […]

    Voya Financial webpage glitch exposes Social Security numbers of reps

    {February 5th, 2019} by Bruce Kelly

    Voya Financial Advisors Inc. on Friday told its brokers and financial advisers that a glitch on a biography webpage for its brokers put their Social Security numbers at risk of exposure. Click HERE to read the full story via InvestmentNews; registration required.

    A New Fixed Indexed Annuity Has RIAs in Mind

    {February 5th, 2019} by Bernice Napach

    DPL Financial Partners, an insurance network for RIAs, has partnered with Security Benefit Life Insurance Co. to launch a fixed index annuity that reflects input from DPL’s RIA members. The annuity, called ClearLine, is commission-free, like all DPL products, and offers downside protection in exchange for limited upside gains. The minimum investment is $25,000. The […]

    IMOs To Trade Groups: What About Our ‘Best Interest?

    {February 5th, 2019} by John Hilton

    A group of independent marketing organizations are dissatisfied with how industry trade groups are representing them in best-interest regulatory discussions. A letter signed by 14 IMO executives was sent last month to the leading trade associations that represent annuity sellers. They say trade groups are too accepting of best-interest ideas put forth by the National […]

    Ex-Vikings Quarterback Fran Tarkenton: How Advisors Can Prevent Elder Fraud

    {February 5th, 2019} by Jane Wollman Rusoff

    Fran Tarkenton, “The Mad Scrambler” NFL record-setting Vikings quarterback, was licensed to sell insurance at age 18. Back then, fellow students at the University of Georgia purchased the plan he was marketing. Today, the retired Hall of Famer is touting fixed indexed annuities as a retirement strategy to protect seniors from financial abuse. He also […]

    Lockheed Martin transfers $1.8 billion in pension obligations to Prudential Retirement

    {February 5th, 2019} by Business Wire

    NEWARK, N.J.–(BUSINESS WIRE)–Lockheed Martin Corporation (NYSE: LMT) has transferred approximately $1.8 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE: PRU). Approximately 32,000 of Lockheed Martin’s retirees will receive their monthly pension benefit payments from Prudential as part of […]

    CNO Financial Names Cheryl L. Heilman Vice President and President of Bankers Life Securities

    {February 5th, 2019} by CNO Financial Group

    CARMEL, Ind., Feb. 4, 2019 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) announced today the appointment of Cheryl L. Heilman to the position of vice president and president of Bankers Life Securities, Inc. (BLS) and Bankers Life Advisory Services, Inc. (BLAS). In this role, Heilman will be responsible for driving the strategic growth agenda of both the retail broker-dealer and […]

    Report: Under-Insurance Costing Life Insurers $70B Annually

    {February 5th, 2019} by John Hilton

    Just 26 percent of the total coverage needed for life insurance is currently met, according to a new report, resulting in $70 billion in lost premiums for the industry. The report found that insurance companies are missing out on an average of $785 in annual life insurance premium payments per person who requires insurance coverage […]

    Customers Are Taking Control Of Financial Services

    {February 5th, 2019} by Troy Korsgaden

    Gone are the days of carriers leading the entire purchasing cycle of insurance products and financial services. In today’s environment, it’s the customer who is in control. To remain competitive, advisors must become the local gateway to every potential option. This is a positive change for our industry. Instead of running our businesses in a […]

    Ameriprise Financial Reports Fourth Quarter and Full Year 2018 Results

    {February 5th, 2019} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) today reported fourth quarter 2018 net income of $539 million, or $3.76 per diluted share. Adjusted operating earnings excluding items(1) increased 12 percent to $544 million, with adjusted operating earnings per diluted share excluding items(1) up 21 percent to $3.80. Significant equity and interest rate volatility resulted in non-cash mean reversion-related […]

    Top 20 YouTube Annuity Videos of 2018

    {February 5th, 2019} by Allison Bell

    YouTube.com can give you a peek into what other people are thinking about annuities. Here’s a look at the 20 most-watched YouTube annuity videos of 2018. To see screenshots from the five most-watched YouTube annuity videos of 2018, Click HERE Methods We came up with this list by searching YouTube for videos with the word […]

    Charles DiVencenzo to Take the Tiller at NAFA

    {February 5th, 2019} by Allison Bell

    The board of the National Association for Fixed Annuities has picked Charles DiVencenzo to be the group’s new president and chief executive officer. DiVencenzo is set to take the helm April 1. At NAFA, members serve as the board leaders. The group’s president oversees day-to-day operations. Jim Maietta is NAFA’s chair. Click HERE to read […]

    Forget the agent, soon claim insurance through WhatsApp: India

    {February 4th, 2019} by Manik Kumar Malakar

    Indian insurance companies have started to log on to WhatsApp as a convenient and quick means of reaching out to their customers. This may make it easy for customers to access policy details and lodge claims. But for now, the service is limited in scope. Some companies that have launched services via WhatApp are Aditya […]

    Mutual of Omaha to Use VUE Producer Software

    {February 3rd, 2019} by Allison Bell

    Mutual of Omaha is trying to bring agents and brokers aboard more smoothly, and pay them more efficiently. The insurer has agreed to adopt producer onboarding and compensation management software from Computer Solutions and Software International LLC, which does business as VUE Software Mutual of Omaha is hoping the new systems will improve producers’ experience, […]

    Ibbotson Taken to Task over Indexed Annuities

    {February 2nd, 2019} by Kerry Pechter

    If you read the January 28 edition of Advisor Perspectives (AP), you know that Michael Edesess and Bob Huebscher published a kind of takedown of Roger Ibbotson’s year-ago endorsement of fixed indexed annuities. In a March 2018 white paper, Ibbotson portrayed FIA as a generally prudent financial instrument.  Click HERE to read the full story via […]

    Ladder Launches Ladder For Advisors To Further Streamline Consumer Access To Life Insurance

    {February 2nd, 2019} by Ladder

    DALLAS, Jan. 29, 2019 /PRNewswire/ — Ladder, the company that has built life insurance to be instant, simple and smart, today introduced Ladder for Advisors at the T3 Advisor Conference, the leading practice management and technology conference for independent and hybrid financial advisors. Ladder for Advisors is a new solution that provides financial advisors with an efficient way to help their […]

    5 Options to Reduce Investment Risk in IRAs Read Newsmax: 5 Options to Reduce Investment Risk in IRAs

    {February 1st, 2019} by Ken Nuss

    People approaching or in retirement should not have an over-weighted stake in equities. If you need to reduce risk in your IRA and/or Roth IRA, what are the best ways to do it? A bank certificate of deposit (CD) is a reasonable choice. But a fixed-rate annuity can be an even better choice. Both CDs […]

    Arthur J. Gallagher & Co. Acquires Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC

    {January 30th, 2019} by Arthur J. Gallagher & Co.

    ROLLING MEADOWS, Ill., Jan. 28, 2019 /PRNewswire/ — Arthur J. Gallagher & Co. today announced the acquisition of Urbandale, Iowa-based Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC, wholly owned subsidiaries of Inversion Holding Company LLC. Terms of the transaction were not disclosed. Together, Partners Advantage and AMZ Financial rank among the largest independent life insurance wholesale […]

    Protective Life Enters Agreement with Great-West to Reinsure Individual Life Insurance and Annuity Business

    {January 30th, 2019} by Protective Life

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750, Dai-ichi), announced that it has reached an agreement under which its subsidiaries, Protective Life Insurance Company (Protective Life), and Protective Life & Annuity Insurance Company, will acquire via reinsurance substantially all of Great-West Life & Annuity Insurance Company’s […]

    Great-West Lifeco to sell U.S. individual life insurance and annuity business

    {January 30th, 2019} by Great-West Lifeco Inc

    Winnipeg, January 24, 2019 . . . Great-West Lifeco Inc. (Great-West Lifeco) today announced its Colorado-based subsidiary, Great-West Life & Annuity Insurance Company (GWL&A), has reached an agreement to sell, via reinsurance, substantially all of its individual life insurance and annuity business to Protective Life Insurance Company, the primary subsidiary of Protective Life Corporation (Protective). The business […]

    AM Best Comments on Credit Ratings of Protective Life Corporation and Its Subsidiaries Following Announced Reinsurance Agreement

    {January 30th, 2019} by A.M. Best

    Oldwick – AM Best has commented that the Credit Ratings of Protective Life Corporation (Protective) (headquartered in Birmingham, AL) and its insurance subsidiaries remain unchanged following the announcement that it has entered into a reinsurance agreement to acquire approximately $20.0 billion of life and annuity liabilities of insurance subsidiaries of Great-West Lifeco, Inc. (Great-West). Under the terms […]

    DPL Financial Partners and Security Benefit Life launch ClearLine: A new fixed index annuity built for fee-only advisers and their clients

    {January 30th, 2019} by DPL Financial Partners

    LOUISVILLE, Ky., Jan. 29, 2019 (GLOBE NEWSWIRE) — Today, DPL Financial Partners (“DPL”), the insurance network for registered investment advisors (“RIAs”), and Security Benefit Life Insurance Company (“Security Benefit”) launched a new fixed index annuity built in response to feedback from DPL’s RIA members. The commission-free1 fixed index annuity – ClearLine – has a simplified product […]

    A Close Look at Ibbotson’s Research on FIAs

    {January 30th, 2019} by Michael Edesess, Robert Huebscher

    The market for fixed-indexed annuities (FIAs) – previously known as equity-indexed annuities – is growing rapidly, with sales of more than $60 billion annually. We did a careful analysis of two products that are available on the market. Our conclusion is that these products are not a bad choice for an investor who is extremely sensitive […]

    Ladder Courts Fee-Only Advisors

    {January 29th, 2019} by Allison Bell

    A web-based life insurance retailer is now seeking relationships with fee-only financial advisors. Ladder Financial Inc. has offering advisors a new Ladders for Advisors program. Fee-only advisors can use the program to help clients get term life insurance, Ladder says. Ladder says it will offer advisors information about life insurance, and a dashboard that will help […]

    Nevada Fiduciary Duty Proposal Has Strength, Needs Defining: Analysts

    {January 29th, 2019} by John Hilton

    Nevada regulators shocked the industry last week with tough draft fiduciary regulations on broker-dealers and registered representatives. With some are calling the latest state regs tougher than the Securities and Exchange Commission’s best-interest proposal, it isn’t all bad news for those who sell annuities in Nevada. For one thing, commissions remain acceptable under the draft proposal, […]

    Readers weigh in on annuity buyout offer

    {January 29th, 2019} by Mary Beth Franklin

    As a nation, we have become accustomed to divided politics. As a financial planning community, we have our own version of contentious issues, and one of those hot-button issues involves variable annuities. Click HERE to read the full story via InvestmentNews; registration required. 

    Simplicity Acquires LTC Hybrid Distributor

    {January 29th, 2019} by Allison Bell

    An insurance distributor with private equity backing has announced another distribution company deal. Simplicity Group Holdings said Thursday that it has acquired America’s First Financial Corp. of St. Peters, Missouri. America’s First was founded in 1960. It now focuses on wholesaling long-term care (LTC) planning programs based on use of life insurance policies and annuity contracts. […]

    DOL, SEC Fiduciary-Related Rules to Be a ‘Heavy Lift’: Attorney Choi

    {January 29th, 2019} by Elizabeth Festa

    Richard Choi’s favorite winter pastimes are hitting the slopes and shooting sporting clays, but he was too busy in mid-January helping the Insured Retirement Institute craft a comment letter to the Securities and Exchange Commission on the agency’s variable annuity summary prospectus proposal to relish in such pleasures – as of yet. A partner in […]

    Nevada’s ‘Expansive’ Fiduciary Plan Shocks BDs, RIAs

    {January 29th, 2019} by Melanie Waddell

    The proposed fiduciary regulation issued by Nevada on Friday is sending shockwaves through the broker-dealer and registered investment advisor communities, according to ERISA attorneys Fred Reish and Brad Campbell of Drinker Biddle & Reath. The Nevada proposal has “really surprised the regulated community,” particularly broker-dealers, said Reish, a partner and head of Drinker Biddle’s ERISA […]

    More States Advance Their Own Fiduciary Rules

    {January 29th, 2019} by Bernice Napach

    While the SEC’s pending best interest proposal is further delayed by the government shutdown, several individual states are moving ahead with their own fiduciary proposals. Last Friday, Nevada Securities Division introduced a fiduciary rule to implement legislation that had passed in mid-2017, and is soliciting public comment until March 1. The proposed rule, however, allows […]

    Iowa insurance company to receive $19 million in incentives after recent layoffs

    {January 29th, 2019} by Kevin Hardy

    Sammons Financial Group is on track to receive roughly $19 million in state and local taxpayer incentives a month after the company announced it would lay off workers across four states.  Sammons plans to spend $65 million on new corporate offices in West Des Moines that will bring together all its local employees currently spread across three […]

    New York Regulators Roll Eyes at ‘Proprietary’ Accelerated Life Underwriting

    {January 29th, 2019} by Allison Bell

    The New York State Department of Financial Services wants life insurers to prove that the new accelerated underwriting programs they’re using are reasonable, fair and transparent. The department has sent all life insurers authorized to write coverage in the state a letter warning them about their responsibility to vet any “external consumer data and information sources,” […]

    Why A Down Market Is The Perfect Time To Recommend An FIA

    {January 29th, 2019} by Sean A. Ruggiero

    In 2018, the stock market suffered the worst December since the Great Depression. We see the headlines on the internet, we hear about it on the news, even our President is talking about it. So what does this drop in the stock market mean to your clients, and what might you do about it? Click […]

    3 Ways to Position Indexed Universal Life

    {January 29th, 2019} by Tony O’Kussick

    As with any trend, there are reasons to back it up. IUL is the fastest growing individual life insurance product. LIMRA shows 2018 second quarter growth at 23%. In its simplest form, it is a universal life product supported by the cash value that is credited by the index it is tied to and the […]

    Delaware Life Insurance Company Continues Its Growth by Focusing on Its Customers

    {January 29th, 2019} by Delaware Life Insurance Company

    WALTHAM, Mass., Jan. 24, 2019 /PRNewswire/ — Over five years ago, Delaware Life Insurance Company (“Delaware Life”) changed hands but remained committed to its enduring focus—its customers. Delaware Life’s goal is to deliver “pure value” to its customers, which means developing competitive annuity products, providing a seamless customer experience, and serving as an honest and reliable financial […]

    Jackson Launches Elite Access Advisory IISM

    {January 29th, 2019} by Jackson National Life Insurance Company

    NASHVILLE, Tenn.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced the launch of Elite Access (EA) Advisory II, a fee-based investment only variable annuity (IOVA) with no mortality, expense and administration (M&E&A) charge. EA Advisory II is designed to enhance traditional investing with expertly-constructed portfolios, diverse investment options and tax advantages. Greg Cicotte, president and chief […]

    Greenwood Village’s Great-West Life & Annuity sells insurance arm for $1.2 billion

    {January 29th, 2019} by Aldo Svaldi

    Great-West Life & Annuity Insurance Co. in Greenwood Village announced Thursday that it will hand off the bulk of its insurance and annuity business to Protective Life Insurance Co. in a $1.2 billion deal. Canada’s Great-West Lifeco owns Great-West Life & Annuity, which operates three business units, the largest being Empower Retirement, the country’s second-largest provider of […]

    Why Older Millennials Need To Start Taking Life Insurance Seriously

    {January 29th, 2019} by Robert Farrington

    This fact might scare most millennials, but we’re all going to die someday. It’s one of the only certainties in life – along with taxes. However, a recent study by Budget Insurance found that 82% of millennials don’t know what life insurance is for – even as they are aging, starting families, and dealing with more complex […]

    Why you should keep your New Year’s resolution to get life insurance

    {January 29th, 2019} by Jessy Bains

    We’re well into 2019 and New Year’s resolutions are probably being broken. If getting life insurance was one of them, you might want to consider sticking to it – the longer you put it off, the more it could cost you down the road. “Even if the need isn’t immediate, buying life insurance now is […]

    LPL assures advisors other VA issuers won’t copy Ohio National

    {January 29th, 2019} by Tobias Salinger

    A major variable annuity issuer’s move to cut off trailing commissions for advisors in certain contracts won’t be repeated — as far as the nation’s largest independent broker-dealer is concerned. The 15 VA carriers who have selling agreements with LPL Financial have pledged to pay advisors their agreed-upon commissions, Rob Pettman, LPL’s executive vice president […]

    LPL reacts to Ohio National ‘violation of trust’ by renegotiating VA contracts

    {January 29th, 2019} by Greg Iacurci

    LPL Financial, the country’s largest independent broker-dealer, has renegotiated its contracts with all of its variable annuity partners in the wake of Ohio National Financial Services Inc.’s surprise announcement that it would no longer pay trail commissions to some advisers. Click HERE to read the full story via InvestmentNews. 

    Mark McVeigh SVP of Life Insurance Sales for Protective

    {January 29th, 2019} by Protective Life Corporation

    January 18, 2019 — BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective) is pleased to announce that Mark McVeigh has been appointed to the role of Senior Vice President of Life Insurance Sales. In his new role, he will be a member of Protective’s Life & Annuity leadership team and will be responsible for the company’s life insurance distribution, including […]

    Dai-Ichi to Acquire Great-West U.S. Individual Life and Annuity Lines

    {January 29th, 2019} by Allison Bell

    A Japanese life insurer is acquiring a Canadian life insurer’s U.S. individual life and annuity business. Protective Life Corp., a U.S.-based subsidiary of Dai-ichi Life Holdings Inc. of Tokyo, has agreed to acquire most of the U.S. individual life and annuity business of Great-West Lifeco Inc. through a reinsurance arrangement. The deal has a value of […]

    Annuity ‘Strategies’ Don’t Work

    {January 29th, 2019} by David Stone

    I recently read a serious takedown of variable annuities. The author began saying that variable annuities are the “most misunderstood investing strategies…”  I could hardly carry on. Annuities aren’t strategies. Conflating “strategy” with “solution” is an old semantic problem, and it probably isn’t an innocent mistake. The notion of “annuity” as ”strategy” isn’t new. Old-school “sales […]

    New York slaps MetLife with $19.75 million in penalties for heel-dragging

    {January 29th, 2019} by InvestmentNews

    MetLife Insurance Company will pay a $19.75 million penalty for violating New York insurance law by failing to properly locate and pay benefits to thousands of insureds and beneficiaries in the state. Click HERE to read the full story via InvestmentNews; registration required.

    AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries

    {January 29th, 2019} by A.M. Best

    Oldwick – AM Best has commented that the Credit Ratings of Great-West Lifeco, Inc. (Great-West) (Winnipeg, Manitoba) and its insurance subsidiaries remain unchanged following the announcement of a reinsurance agreement with subsidiaries of Protective Life Corporation (Protective). Based on the terms of the agreement, Great-West estimates that the transaction will result in an after-tax transaction value of […]

    Great American Life Introduces New Fixed Annuity Product to Respond to Current Market Volatility

    {January 29th, 2019} by Great American Insurance Group

    CINCINNATI — January 23, 2019 — Great American Life® is pleased to announce the availability of a new fixed annuity product. The American Freedom ClassicSM 3 is designed for consumers who are interested in greater liquidity and who want to grow their money without the worry of market volatility. The new product offers a fixed interest […]

    Pacific Life Introduces New No-Lapse Guarantee Universal Life Insurance Product for the Underinsured Broad Market

    {January 29th, 2019} by Pacific Life

    LYNCHBURG, VA – Jan. 23, 2019 Pacific Life today announced the addition of PL Promise GUL1, a new, no lapse guarantee universal life insurance (GUL) product to its PL Promise line.  Designed to help address the life insurance needs of the underinsured broad market, the new life insurance policy provides lifetime death benefit protection with predictable […]

    Maryland Insurance Administration settles federal suit charging it paid female investigators less than males

    {January 29th, 2019} by Meredith Cohn

    The Maryland Insurance Administration will pay $36,802 in back pay and damages to three female fraud investigators to settle a pay discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission, the federal agency reported Monday. The federal agency charged that the state insurance regulator had paid the women lower salaries than it paid to […]

    What If The Market Goes Up? Why An FIA Is Better Than Stocks

    {January 29th, 2019} by Sean A. Ruggiero

    What if the market rebounds in 2019? Let’s say that the S&P 500 rebounds and gains 10 percent back in 2019. Would that make stocks a better retirement income vehicle than a fixed indexed annuity for your clients? Let’s take a look. Click HERE to read the full story via INN: subscription required. 

    Partial Federal Government Shutdown Hampers Insurance Industry

    {January 24th, 2019} by Meg Green

    NEW YORK – The longest partial federal government shutdown in U.S. history is frustrating the insurance industry. Canceled meetings, hampered regulatory progress and the long-term economic impact of the shutdown, including the danger of civil servants shying away from future government employment, are among their concerns. “It’s obviously very distracting,” said David Sampson, president and […]

    New index option added to Nationwide Peak fixed indexed annuity

    {January 23rd, 2019} by Nationwide

    COLUMBUS, Ohio, Jan. 18, 2019 /PRNewswire/ — Nationwide announced today that it has added the Morgan Stanley 3D Index option to its fixed indexed annuity (FIA) Nationwide Peak® to provide an additional option for clients that could result in higher growth while maintaining principal protection. “Morgan Stanley’s unique index provides the opportunity for growth and when paired with […]

    Vantis Life’s DIY Online Life Insurance Sales Now Open to Consumers

    {January 23rd, 2019} by Vantis Life Insurance Company

    WINDSOR, Conn.–(BUSINESS WIRE)–Vantis Life Insurance Company, an industry-leading life insurance provider, has introduced its web- and mobile-based, DIY life insurance application process, Velocity, to mass-market consumers. All Velocity products feature the possibility of expedited underwriting, which can deliver a policy decision in as little as a few minutes and without the need for a medical exam. LIMRA International indicates […]

    5 Money Moves Retirees Should Make Before the End of the Year

    {January 23rd, 2019} by Selena Maranjian

    If you’re a retiree who likes to get important things done on time, you’re in luck! You have the entire year ahead of you to accomplish these five money moves. Here’s a look at a handful of critical tasks that should be on your to-do list. Even though many months lie ahead until 2019 is […]

    Paying for funerals impossible for many poor families

    {January 23rd, 2019} by COREY WILLIAMS, Associated Press

    Darlene Hardison would have loved to have a funeral for her father and uncle and bury them in marked graves at a Michigan cemetery. But she and her family could come up with only enough money to have Hoover Heags and Arthur Hardison cremated, then they left the remains to a Detroit funeral home to […]

    Maryland Seeks To Place Brokers, Agents Under A ‘Fiduciary’ Standard

    {January 23rd, 2019} by John Hilton

    A Maryland commission is recommending that a “fiduciary duty standard” be placed on broker-dealers and insurance agents doing business in the state. The Maryland Financial Consumer Protection Commission released its report last week, the second report in its two years of existence. The latest effort touches on several areas on consumer protection, including data breaches […]

    Opinion: There’s Always The Next Recession, So Be Prepared

    {January 23rd, 2019} by Liz Weston

    Recessions are like natural disasters: They’re inevitable, but smart preparation may reduce the impact on your clients. Here is some good advice for them. The U.S. economy has grown steadily since emerging from the “Great Recession” in June 2009, but expansions can’t continue forever, and this one is already the second-longest on record. Only the […]

    Royal Alliance charged with failure to supervise variable annuity sales

    {January 23rd, 2019} by InvestmentNews

    Massachusetts securities regulators have charged Royal Alliance Associates with failure to supervise a broker who recommended unsuitable investments to a couple, which ultimately cost the investors nearly $60,000. Click HERE to read the full story via InvestmentNews; registration required.

    Nippon Life president says actively exploring M&A in U.S.

    {January 22nd, 2019} by Taiga Uranaka and Taro Fuse

    TOKYO (Reuters) – Nippon Life Insurance Co is actively seeking mergers and acquisitions overseas, with a focus on the United States and Asia’s emerging economies, the president of Japan’s largest life insurer said on Monday. Japanese insurers have been among the most aggressive in overseas acquisitions. Yet, unlike smaller rivals, Nippon Life has not made […]

    Annuities, RIAs and ‘Cargo Cult’ Thinking

    {January 22nd, 2019} by Kerry Pechter

    Brighthouse Financial’s Shield structured annuity joins products from Allianz Life, Jackson National and Global Atlantic on the Envestnet Insurance Exchange, where annuity issuers hope to engage registered investment advisors. An interview with Envestnet president Bill Crager is included.  Click HERE to read the full story via RIJ; subscription required. 

    Fintech isn’t just for kids

    {January 22nd, 2019} by Ryan W. Neal

    Financial advice firms need to embrace digital technology to reach next-gen investors and attract young advisers, but that doesn’t mean fintech is just for kids. Click HERE to read the full story via InvestmentNews; registration required.

    Merrill Lynch Calls for Big Upside in Life Insurance Sector Leaders

    {January 22nd, 2019} by Jon C. Ogg

    It has been a while since there has been much great to say about the banking and financial sector leaders. That said, the woes of the big banks might not pertain to some of the key non-bank financials. According to BofA Merrill Lynch, life insurance stocks are now undervalued entering 2019 and are already discounting […]

    Fiserv makes monster $22B acquisition of First Data

    {January 22nd, 2019} by John Adams

    Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry’s largest technology and processing companies. Fiserv shareholders will own almost 58% of the combined company, with First Data’s shareholders holding the rest. The acquisition is expected to close in the […]

    Fear Factor: Worrying about Financial Wellness

    {January 22nd, 2019} by Tom Foster

    An earthquake or tornado destroys your neighborhood … terrorists attack your community… burglars or thugs invade your home … The news is full of scary events that cause us to worry and fear for our well-being. But while Middle-class Americans express varying degrees of concern about those situations, what worries them more is money, according […]

    AIG Named Official Insurance Partner Of The PGA of America

    {January 22nd, 2019} by PGA of America

    PALM BEACH GARDENS, Fla., Jan. 16, 2019 /PRNewswire/ — American International Group (AIG) has been named the Official Insurance Partner of the PGA of America, as well as some of the PGA’s most prestigious Championships. This includes the PGA Championship, KPMG Women’s PGA Championship and KitchenAid Senior PGA Championship. This new partnership strengthens the existing relationship between the […]

    6 Appointees Join New Wave of NAFA Leadership

    {January 22nd, 2019} by NAFA

    WASHINGTON (Jan. 16, 2019) — The general membership of NAFA, the National Association for Fixed Annuities, unanimously approved the slate of candidates presented for the 2019 board of directors at the association’s annual meeting held recently in Nashville, Tenn. Nominations were received from the membership at large, and candidates were vetted by the current board before […]

    Northwestern Mutual Named One of “Best Employers for Diversity” by Forbes Magazine

    {January 22nd, 2019} by Northwestern Mutual

    MILWAUKEE, Jan. 17, 2019 /PRNewswire/ — Northwestern Mutual, a leading financial security company, announced today it has been named one of the “Best Employers for Diversity” for 2019 by Forbes magazine. Northwestern Mutual placed #33 overall and #4 among insurance companies. “We’re honored to be recognized by Forbes for our efforts to build an inspiring, diverse and inclusive culture,” said John Schlifske, Northwestern […]

    Protective Life Corporation Names Mark McVeigh Senior Vice President of Life Insurance Sales

    {January 22nd, 2019} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective) is pleased to announce that Mark McVeigh has been appointed to the role of Senior Vice President of Life Insurance Sales. In his new role, he will be a member of Protective’s Life & Annuity leadership team and will be responsible for the company’s life insurance distribution, including brokerage, affinity, […]

    United States: Broker-Dealer Settles FINRA Charges For Failure To Supervise Sales Of Variable Annuities

    {January 22nd, 2019} by Cadwalader, Wickersham & Taft LLP

    A broker-dealer agreed to settle FINRA charges for failing to supervise sales of variable annuities. According to the Letter of Acceptance, Waiver and Consent, CFD Investments, Inc. (“CFD Investments”) failed to adequately supervise the sale of multi-share class variable annuities to address the suitability of different share classes in light of their different costs and surrender periods. […]

    NAIC Names 2019 Consumer Reps

    {January 22nd, 2019} by Allison Bell

    Six people who say they represent the interests of consumers have joined the Consumer Liaison Program team at the National Association of Insurance Commissioners (NAIC.) The NAIC has a total of 34 consumer representatives, including 20 who get financial help from the NAIC with participating in NAIC proceedings and 14 who pay their own way. The NAIC […]

    Guardian Life Finds Buyers for Headquarters Building

    {January 22nd, 2019} by Betsy Kim

    GFP Real Estate and Northwind Group have agreed to buy 7 Hanover from Guardian Life Insurance Company of America for $308.5 million. Guardian has had its headquarters in the 29-story building, which is in lower Manhattan, since 1999. The life, annuity and disability issuer plans to move its headquarters farther north, and to the west, to Hudson […]

    Prudential Affiliate Joins in $245 Million Building Purchase

    {January 22nd, 2019} by Betsy Kim

    PGIM Real Estate — an arm of Prudential Financial Inc. — has joined with SJP Properties to buy  an office and retail building in Manhattan for $245 million. The SJP-PGIM Real Estate joint venture purchased the building, 470 Park Ave. South, for $245 million from Norway’s sovereign wealth fund, Norges Bank Real Estate Management, and TH Real Estate. TH Real […]

    Where Did the Young Life Insurance Applicants Go?

    {January 22nd, 2019} by Allison Bell

    Young Americans’ life insurance application activity continued to cool in December, as older Americans’ application activity soared. Application activity for consumers of all ages was fairly strong, and roughly comparable, through September, according to application activity data from MIB Group Inc. Activity began to plummet for consumers ages 0 through 44 and climb for consumers ages 60 […]

    CFP Board Announces Action in VUL Case

    {January 22nd, 2019} by Allison Bell

    The CFP Board says it has revoked Certified Financial Planner (CFP) designation use rights in a case involving the suitability of recommendations for variable universal life (VUL) insurance. The Washington-based organization says it took CFP designation use rights from Andrew L. Schade of Lansing, Michigan. Click HERE to read the full story via ThinkAdvisor.

    ‘Giving Back’ Can Build Stronger Customer Ties

    {January 22nd, 2019} by Catherine Hernandez-Blades

    Say the words “corporate social responsibility,” or CSR, and what may come to mind are multinational corporations taking action on global issues like climate change or public health. While that is certainly part of what is happening under the larger CSR umbrella today, businesses of all sizes are increasingly embracing good corporate citizenship as part […]

    Morgan Stanley Gets Index Into Nationwide Annuity

    {January 22nd, 2019} by Allison Bell

    The life and annuities unit at Nationwide has added an investment index from Morgan Stanley to the index menu for its Nationwide Peak indexed annuity. The Columbus, Ohio-based company ill be offering contract holders the Morgan Stanley 3D Index option. The contract’s investment index menu already included the S&P 500, J.P. Morgan Mozaic II Index, […]

    What’s Behind the War on Variable Annuities?

    {January 22nd, 2019} by Jon Henschen

    After the market carnage of 2008-2009, a number of advisors shared stories with me about  clients who would literally kiss them in adoration, so grateful for the fact that their nest egg suffered no losses during this market turbulence because they were invested in variable annuities with living benefits. Clients like to make money. More […]

    5 IRS 199A Deduction Reg Questions, for Annuity Sellers

    {January 22nd, 2019} by Allison Bell

    The Internal Revenue Services has completed major new 199A tax-deduction regulations that could lead professionals who work with annuities to try to redefine themselves. Financial services groups could up spending years fighting over definitions in Washington because slight changes in what the IRS thinks certain terms mean could affect whether annuity sellers can, or can’t, get access […]

    Life Insurance Is NOT a Financial Service: New IRS 199A Tax Deduction Regs

    {January 22nd, 2019} by Allison Bell

    The Internal Revenue Service has released final regulations that should help life insurance agents get a big new federal income tax deduction — by classifying life insurance as not being a financial service. The IRS says it generally will exclude sales of commission-based insurance policies when deciding whether a business owner can qualify for a new “qualified […]

    Is There a Male Problem in the Financial Advisory Industry?

    {January 22nd, 2019} by Alex Padalka

    If women make better investors, wouldn’t they make better FAs? Blair duQuesnay suggests the financial advisory industry could use significantly more female advisors, but the question is how does the industry reshape itself? In an opinion piece for the New York Times entitled “Consider Firing Your Male Broker,” duQuesnay writes that the industry has a long way to […]

    Carson Group Adds Retirement Planning Expert, Jamie Hopkins, to Lead Retirement Research and Investor and Advisor Retirement Education

    {January 22nd, 2019} by Carson Group

    OMAHA, Neb., Jan. 11, 2019 /PRNewswire/ — Carson Group, a family of companies committed to being the most trusted for financial advice and guidance via service to both advisors and investors, announced it has hired retirement planning expert Jamie Hopkins as the Vice President of Private Client Services and Director of Retirement Research. Carson Group added Mr. Hopkins to further develop […]

    Bermuda Raising Profile of Life & Annuity Insurance Sector

    {January 22nd, 2019} by The Bermuda Business Development Agency

    HAMILTON, Bermuda, Jan. 21, 2019 (GLOBE NEWSWIRE) — The Bermuda Business Development Agency (BDA) is partnering with the island’s fast-growing life and annuity re/insurance sector to promote a strong presence at the industry’s largest US conference this spring. For the first time, the BDA will team with Bermuda International Long Term Insurers & Reinsurers (BILTIR) […]

    Opinion: Never mind the Social Security increase, seniors are in trouble — here’s why

    {January 21st, 2019} by Paul Brandus

    You might have heard that Social Security checks are going up 2.8% next year, the biggest rise in seven years. That translates into an average benefit of $1,461 a month, up $39. While welcome, it’s necessary to remember that the increase is tied to inflation. Higher payouts will simply enable retirees to keep up with the […]

    CFP Board gets first report card on diversity efforts

    {January 21st, 2019} by Amanda Schiavo

    After renewed efforts to improve diversity, is the CFP Board seeing signs of early success? The board reported the number of people of color and women holding its designation increased to 2,916 and 19,248, jumps of 8% and 3.6% from the prior year. Overall, the board said the total number of CFPs is now an […]

    MassMutual seeks buyer for 66-acre Enfield campus

    {January 20th, 2019} by Stephen Singer

    MassMutual, which announced last year its departure from Enfield to Massachusetts, is selling its 435,000 square feet of office space on 66 acres. Its agent has not disclosed the sales price, but the assessed value is $34.6 million, according to the Enfield assessor. The property tax bill is about $1.3 million. Click HERE to read […]

    Rep. Wilson Introduces Bill On Reduction Of Survivor Annuities

    {January 18th, 2019} by Targeted News Service (Press Releases)

    WASHINGTON, Jan. 17 — Rep. Joe Wilson, R-S.C., has introduced legislation (H.R. 553) to amend title 10, U.S. Code, “to repeal the requirement for reduction of survivor annuities under the Survivor Benefit Plan for military surviving spouses to offset the receipt of veterans dependency and indemnity compensation.” The bill was introduced on Jan. 15 and […]