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Heading into the election, polling data and market signals disagreed on how close the presidential election would be, with market signals calling the race much closer—which turned out to be accurate. Now that we have more clarity on the results of the election, we can review what we believe will be some of the key market implications going forward.

The Life Insurance and Annuities Committee gave consumer advocate Birny Birnbaum 20 minutes to make the case for new illustration rules. The overall life insurance illustration model regulation #582 was a very lengthy, acrimonious process that took years before the NAIC adopted it in 1995.

In stressful times it is important we as advisors are prepared to properly show up for our clients. Three ways we can prepare are as follows: arming ourselves with information, understanding the history of our business and its intricacies, and taking care of our own needs.

“Severability” was the key word as the U.S. Supreme Court heard oral arguments Tuesday on whether the Affordable Care Act is unconstitutional without the individual mandate penalty. Meanwhile, two key U.S. Supreme Court justices indicated they are inclined to keep most of the Affordable Care Act intact even if the court strikes down the provision requiring people to have insurance.

In July, 69% of consumers said they had a greater need for adequate health insurance, while 58% said they had a heightened need for adequate life insurance. This level of concern was almost as high as the 72% of people who were concerned about having enough paper products (tissue, toilet paper and paper towels)!

The plan is to sell 19.9% of the life/retirement business, either through an initial public offering, commonly called an IPO, or a private sale. It “will not consider” selling more than that, said Zaffino, who will become CEO on March 1, 2021, and remain president of AIG.

Lincoln Financial expects “to bottom out” during the fourth quarter, CEO Dennis Glass said of life and annuity sales, and the company is preparing to roar back in 2021 with eight new products lined up. Glass spoke today during a conference call with analysts to review third-quarter earnings.

Prudential Financial is discontinuing all sales of variable annuities with guaranteed living benefits, eliminating its Highest Daily Income and Prudential Defined Income annuity products. The move is needed as the insurer recalibrates amid economic uncertainty and ultra-low interest rates, CEO Charlie Lowry said.

The U.S. Department of Labor (DOL) issued a final rule to provide regulatory guideposts for plan fiduciaries seeking to invest using non-pecuniary principles, particularly those involving environmental, social, and governance (ESG) investing.

Athene is in an deal-making mode, President Bill Wheeler said, but will be looking elsewhere. American Equity rejected a $3 billion takeover bid put forth earlier this month by MassMutual and Athene, and is instead going into business with Brookfield Asset Management.

A Cannex researcher and executives from AIG and Delaware Life review some of the tough lessons being meted out by the pandemic. One key realization is that consumers’ short-term concerns are putting their long-term needs on the back burner.

Jackson National Life Insurance Co. became the latest insurer today to announce layoffs due to the pandemic business slowdown. The company said it is laying off about 150 people, a company spokesman confirmed in an emailed statement.

As shown in the LPL Chart of the Day, since 1952, with surprising regularity, US voters have given each party a second term in the White House to complete its legislative agenda. With equal regularity, they have flipped the party in the White House after eight years, resetting the balance of power in our two-party system.