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Although the Consolidated Appropriations Act was largely a spending and stimulus relief bill, it also contained a provision that changed the determination of a minimum interest rate used in certain tax-related calculations for life insurance contracts.

If a customer reaches out to you, desperate to manage rising cost-of-insurance costs that are in excess of the policy’s investment income, what recommendations do you provide? That customer could surrender all or part of the insurance to reduce the premium burden. A life settlement is also an option, however. And often, it’s an option with better financial outcomes for your customer.
Janet Yellen, Treasury secretary, is calling for more pandemic stimulus.

The Senate on Monday approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th treasury secretary, making her the first woman to hold the job in the department’s 232-year history.

The Florida Supreme Court settled last week a critical property/casualty coverage issue dating to Hurricane Frances in 2004, ruling that an apartment complex owner cannot sue for lost rental income. The case threatened to set a critical precedent for P&C insurers.

Janet Yellen is one step closer to becoming Treasury secretary, with the Senate Finance Committee’s unanimously approving her nomination on Friday.

Are you truly committed to serving your clients for the long run? You may care deeply about your clients and their financial interests, but if you don’t have a great relationship with their spouses or adult children, how can you assure their financial interests will survive well into the future?

A federal judge tossed out a lawsuit accusing MetLife and its executives of defrauding investors concerning accounting for its retirement and income solution line of business. In a Jan. 11 decision, Judge Sterling Johnson, Jr. of the Eastern District of New York found the claims “without merit.”

Federal authorities said ex-Rep. Robin Hayes participated in a scheme while GOP state chairman in which wealthy insurance company exec Greg Lindberg attempted to bribe the state insurance commissioner with $1.5 million in campaign funds in exchange for removing a top department regulator.

Sholam Weiss helped destroy the National Heritage Life Insurance Co. in a $450 million fraud scheme carried out in the 1990s. He was convicted of racketeering, wire fraud, money laundering, and obstruction of justice and given an 835-year sentence, one of the longest for a white collar crime in U.S. history.

A bill to establish a best-interest standard was unanimously approved by the North Dakota House Industry, Business and Labor Committee following a morning public hearing. North Dakota is the latest state to pursue the best-interest model law put forth by the National Association of Insurance Commissioners.

SAN FRANCISCO–(BUSINESS WIRE)– Charles Schwab has introduced two new variable annuities that are among the lowest cost in the industry….

NEW YORK, January 19, 2021 – New York Life announced today that it has expanded its comprehensive suite of retirement…

A pair of McKinsey & Co. analysts briefed members of the National Association of Independent Life Brokerage Agencies last week and described a life insurance industry in desperate need of digital skills, younger talent and products that offer innovate solutions for a changing demographic.

The economic news has continued to soften in recent days. December saw layoffs go up and the number of jobs decline, and, this morning, the retail sales numbers dropped. Consumer confidence has gone down. Clearly, the economic headwinds from the pandemic are getting worse.

Two insurers are defendants in new lawsuits filed in California over whether proper notice was given in cases of lapse or termination of policies. The plaintiffs claim American National Insurance Company and Lincoln Benefit Life Company violated a 2013 California law that beefed up notification requirements.