With more and more states closing businesses and requiring people to implement social distancing practices, LIMRA examined what advisors are doing to stay connected to their clients.
Leaders of four insurance industry organizations have sent letters to every state insurance licensing authority requesting temporary licensing accommodations for producers who…
Life insurance sales were very strong in 2019, according to Wink’s Sales & Market Report, with indexed life sales smashing records. Indexed life sales for the fourth quarter were $725.1 million, up 30.8% when compared with the previous quarter, and up 14.6% as compared to the same period last year.
Total insurance industry merger-and-acquisition deals in the fourth quarter 2019 totaled $11.43 billion in the U.S., according to GlobalData’s deals database. The value marked an increase of 174% over the previous quarter.
Trade associations from across the entire health care spectrum came together with one voice in a letter to Vice President…
California is pressing all insurers to give policyholders “at least” a 60-day grace period from insurance premium payments.
Today, the Centers for Medicare & Medicaid Services (CMS) issued Frequently Asked Questions (FAQs) to clarify coverage for the diagnosis…
LIMRA and LOMA are canceling all industry meetings and conferences through April due to coronavirus concerns. The move comes as President Donald Trump urged Americans to avoid meeting in any groups of 10 or more.
As millions of Americans shelter in place, work from home, or face business closures and layoffs, the number of cars on the road has fallen precipitously and, as a result, the number of daily car accidents will diminish dramatically, consumer groups say.
A recent LIMRA and LOMA survey of financial services companies found that 91% have a pandemic stress scenario in place, but just 16% see the coronavirus as a severe pandemic.
According to the Secure Retirement Institute U.S. annuity sales rankings, Jackson was the top seller of total annuities in 2019. Jackson retakes the lead position after losing it to AIG in 2018.
WASHINGTON — The Internal Revenue Service advised that high-deductible health plans can pay for COVID-19-related testing and treatment, without jeopardizing…
The National Association of Insurance Commissioners will be holding a full-day special session of the nations’ chief state insurance officials on March 22, 2020, to discuss state response and coordination around COVID-19.
Americans see employers as having a dual role to play in addressing risks associated with the virus, both in protecting their health and well-being and as trusted providers of information about the disease and resources to help manage its impact.
A record-breaking 501 U.S. single-premium pension buy-out contracts were sold in 2019, totaling $28 billion, according to the Secure Retirement Institute U.S. Group Annuity Risk Transfer Sales Survey.
Almost half of Latin American consumers consider it their responsibility to plan for retirement and do not want to depend on the government or family members, the study finds. Yet 55% of Latin America adults do not work with a financial professional to help them with their households’ financial decisions.
WASHINGTON, D.C. – After announcing their intent to create a new organization in July 2019, AALU and GAMA International today…
The Alliance for Lifetime Income is proud to announce that it will be the sole sponsor of the 2020 Rolling Stones “No Filter” tour. This is the second consecutive year that the Alliance has sponsored the Rolling Stones’ U.S. tour.
Americans are holding off on traditional milestones – such as marriage, having children, and retirement – in favor of better financial security. A new survey found that 61% of Americans agree that traditional life milestones are no longer important.
Every year, millions of dollars in life insurance benefits go unclaimed because beneficiaries are unaware of the coverage or don’t have basic information about the policies. The level of knowledge about life insurance policies varies according to generational cohort.
The National Association of Insurance Commissioners recently named 32 consumer liaison representatives for 2020.
The National Association of Insurance Commissioners named its 2020 committee chairs and vice chairs.
Total U.S. individual life insurance new annualized premium increased 2% in the third quarter, compared with 3Q 2018, according to LIMRA. Indexed Universal Life sales climbed 7% for the quarter and the year so far, with half of the companies reporting increases, LIMRA said.
Foresters Financial is changing its underwriting guidelines across its non-medical life insurance product portfolio so more Americans who use cannabis can qualify for coverage. “We made the decision to modernize our products to stay in step with this evolving trend,” said Matt Berman, chief distribution officer, Foresters.
The American Council of Life Insurers elected its chairman, officers and board of directors at the 2019 ACLI Annual Conference.
There were 490 announced insurance agency mergers and acquisitions during the first three quarters of the year, according to OPTIS Partners’ M&A database. It was the highest nine-month total ever, beating the 481 deals announced in 2018.
LIMRA research finds the top reason employers offer benefits is to retain employees (73%), followed by attracting new employees (56%) and staying competitive in the market (51%). One reason that retaining employees is a significantly bigger motive than attracting new employees comes down to cost.
LIMRA research shows 26% of all U.S. workers participate in gig work either as their primary job or as a secondary source of income and almost three-quarters of these workers believe they will continue working in this capacity over the next five years. Lack of access to benefits that are usually offered to traditional workers is one of the big challenges of this work.
A new LIMRA Secure Retirement Institute (SRI) study finds 8 in 10 private-sector DB plan sponsors (who also offer a defined contribution plan) are at least somewhat interested in a pension risk transfer transaction (PRT). Four in 10 plan sponsors say they are “very” interested in PRT, marking a 12 percentage-point increase from plan sponsors surveyed in 2014.
Total U.S. individual life insurance new annualized premium growth was flat in the second quarter and the first half of 2019, according to LIMRA’s annual sales survey. In the second quarter, the number of policies sold decreased 5%, compared with second quarter 2018. Year-to-date, policy count dropped 4%.
Between your 401 or pension, your IRA and Social Security, you hope to have enough to enjoy a comfortable retirement lifestyle. Yet, you may want, or need, to find other financial resources one of which might be a fixed annuity, which offers a guaranteed interest rate and can be structured to provide a lifetime income stream.
The U.S. Department of Homeland Security’s Federal Emergency Management Agency issued the following news release:. August 25, the second anniversary of Hurricane Harvey’s landfall along the Texas coast, is a great reminder to buy or renew a policy with the National Flood Insurance Program. When Hurricane Harvey struck the Gulf Coast two years ago, it brought…
U.S. single-premium pension buy-out product sales surpassed $4.7 billion in the second quarter 2019, which is the 18th consecutive quarter of $1 billion+ sales. This also represents the second consecutive quarter of sales over $4.7 billion, according to the LIMRA Secure Retirement Institute.
Forty percent of non-retired Americans say that “how much income they’ll have in retirement” is the most important question they face about retirement. And eight in ten (80%) non-retirees indicate they lack a specific financial plan that they follow. One-third are not preparing for retirement because they don’t have enough time.
FALLS CHURCH – The National Association of Insurance and Financial Advisors (NAIFA) announced Guy E. Baker, Ph.D., MSFS, MBA, CLU,…
The Association for Advanced Life Underwriting (AALU) and GAMA International today announced they will merge into one organization by June 2020. This organization will be “the first of its kind in the industry,” representing all distribution channels and bringing together the strengths of AALU’s advocacy and GAMA’s leadership, officials said in a news release.
The first half of 2019 saw 328 announced insurance agency mergers and acquisitions, according to OPTIS Partners’ M&A database. That is the second-highest six-month total, trailing only the first half of 2017 when 333 transactions were reported. A record 665 transactions closed in the past 12 months, OPTIS said.