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July 21, 2021

Prudential Sells Retirement Business To Empower In $3.55B Deal

Empower, a Great-West Life company, plans to consolidate the two companies’ retirement business on a platform the Empower built with the help of last year’s $1 billion acquisition of Personal Capital.

California Woman Charged With Felony Identity Theft In Insurance Scam

July 21, 2021

Christina Mejia, 31, was arraigned today on nine felony counts of insurance fraud and identity theft after she allegedly stole multiple victims’ identities to purchase an insurance policy and filed a fraudulent claim involving a 2020 Cadillac.

If the Democratic Tax Bill Passes, Will It Be Retroactive To January 1, 2021?

July 21, 2021

When Joe Biden won the 2020 presidential election there was a belief among a wide swath of tax pundits that…

July 21, 2021

Lincoln The Latest Carrier To Pull Life Products From New York

Although the state’s Supreme Court overturned Regulation 187, many major carriers have already pulled out of the state, which is appealing the court’s ruling.

July 20, 2021

US Attorney: NY Man’s Scams Included The Theft Of 420K In Life Insurance

A New York man was sentenced Monday to 46 months in federal prison for participating in business email compromise scams.

‘Annuity King’ Partner Takes Plea Deal; Florida Fraud Trial Expected In Fall

July 20, 2021

According to court documents, Kenneth Murry Rossman pleaded guilty to one count of  conspiracy to commit mail fraud and wire fraud, and one count of “aiding and assisting the preparation and filing of fraud and false tax returns.”

Final Expense, Pre-Need Life Insurance Show Mixed Sales Results In 2020

July 20, 2021

ATLANTA, July 20, 2021—Total final expense life insurance premium was $480 million among the 19 companies providing sales for both…

NAIC Committee Passes Annuity Sales FAQs

July 19, 2021

A key state insurance regulator group adopted a list of FAQs today in an effort to persuade more states to adopt new annuity sales rules.

July 19, 2021

Your Clients Are Likely Underestimating Their Lifespan By 5 Years

A Capital Group blog post cites Society of Actuaries data to show that Americans are routinely underestimating their lifespan, and may be overestimating their resources.

July 16, 2021

Fact Or Fiction: Dispelling Employer Myths About Institutional Income Annuities

Here are three misunderstandings that can often develop surrounding income annuities, as well as insights that can help employers leverage these benefits to promote long-term financial wellness in a post-pandemic world.

Elderly Took A Pandemic Financial Hit, But Remain Resilient

July 16, 2021

WASHINGTON – July 15, 2021 – The Employee Benefit Research Institute has released a new study examining the impact of…

Seeking Success: 4 Ways To Connect With Your Clients And Prospects

July 16, 2021

Being an advisor in 2021 has introduced us to countless new digital tools that allow us to optimize our client service. Although our focus on technology has grown, it’s important to remember that our most valuable tool for success remains the ability to connect.

July 15, 2021

AIG-Blackstone Deal A Power Move For Both, Analyst Says

Wednesday’s blockbuster AIG-Blackstone deal is likely to power up both companies in their respective worlds of insurance and private equity, according to a leading industry analyst.

July 15, 2021

First-Half 2021 Life Insurance Applications Up Sharply, MIB Reports

Life insurance application activity ended the second quarter up 7.3% for the year, the MIB Life Index reported.

SEC Reaches $97M Settlement With TIAA Subsidiary For Rollover Violations

July 15, 2021

The $97 million will be distributed to investors affected by the misconduct and settles both the SEC’s case and a parallel action announced today by the Office of the New York Attorney General.

July 15, 2021

Blackstone Takes Stake In AIG Life & Retirement Business In $2.2B Deal

American International Group is selling a 9.9% equity stake in AIG’s Life & Retirement business to Blackstone for $2.2 billion in an all-cash transaction.

July 15, 2021

Wealth Concentrates Among $5M-Plus And Older Households: Study

Households with $5 million-plus in investable assets grabbed over 80% of the COVID market runup, while mass affluent households with $100,000 to under $500,000 declined in number.

July 14, 2021

What The Independent Health Insurance Agent Needs To Know In Order To Survive

Ronnell Nolan, president and CEO of Health Agents for America, discusses recent developments in Washington, how they affect the independent health insurance agent and broker, and what you need to know in order to be compliant.

Family Of Teenager In Surfside Collapse Sues

July 14, 2021

Miami-Dade County Circuit Judge Michael Hanzman has appointed a receiver to take over financial decision-making for the condominium association.

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