Prudential Financial Inc. will temporarily suspend taking applications for 30-year term life insurance policies, effective April 13, a spokeswoman confirmed today. The insurer cited “unprecedented market volatility over the past month and the anticipated low interest rate environment.”
March was a really tough month. After a terrible February, all major stock indices were down by double digits, leading to significant declines for the quarter as a whole. All of the major indices ended the month and quarter below their 200-day moving averages, often a sign of more trouble ahead.
Market downturns can create annuity sales opportunities, but agents and advisors need to be taking steps to protect and prepare themselves because history will look back on how advisors and the industry conducted business during the crisis.
Billionaire insurance magnate Greg Lindberg’s lawyers filed a motion Thursday for acquittal and for a new trial in the Western District of North Carolina. His attorneys submitted a 69-page document, claiming court errors, the government failed to meet the standard of “beyond reasonable doubt,” and that Lindberg was entrapped.
Virtual selling may take you out of your comfort zone, but it’s an effective way to reach clients and prospects in the time of stay-at-home orders and social distancing.
To ensure clients have immediate means to cover unforeseen costs, advisors should consider the merits of personal lines of credit as an alternative to standard emergency fund plans. Here’s how advisors can manage the process.
The Coronavirus Aid, Relief and Economic Security Act contains a number of provisions that can benefit your clients in the midst of the COVID-19 pandemic and market downturn. Don’t wait to reach out to business and individual clients to help them take advantage of this new law. In addition, some portions of the CARES Act can help your own practice.
Sixty percent of Medicare insurance agents say their income declined over the past month as COVID-19 shut down businesses and forced Americans indoors. The online poll was conducted by the American Association for Medicare Supplement Insurance.
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…
The Trump administration will not reopen the federal health insurance exchanges for a special enrollment period in the wake of the COVID-19 pandemic, although several states that operate their own exchanges will continue to allow people to sign up for coverage.
Life insurance is an invaluable asset to those facing advanced-stage illness. It’s also a flexible asset that can be leveraged in different ways to meet individuals’ various financial needs.
Risk tolerance is a personal question and varies depending on the individual, their target retirement age, their financial goals and other circumstances unique to their situation. The traditional thinking is that investors should de-risk into fixed investments as they age. Annuities can help answer a lot of questions in this planning process.
The U.S. economy could get back on track quickly for very strong growth in the fourth quarter. The key is to get the COVID-19 pandemic under control by mid-summer, if not before, said Ben Ayers, senior economist for Nationwide.
The recent market crash presents an opportunity for advisors to ease their clients’ fears on everything from how to deal with future tax increases to how to generate lifetime retirement income,
Many commercial insurance policies contain clauses that may cover losses suffered as a result of an order issued by the government, such as the recent orders restricting access to restaurants, bars and other public establishments.
Insurers are required to delay collecting premium on life insurance and annuity contracts written in New York for 90 days under an emergency regulation adopted today. The directive covers consumers experiencing financial hardship due to the COVID-19 pandemic, the New York Department of Financial Services said.
The current working environment “is a huge opportunity to pick up clients, market share and new opportunities moving forward,” said an advisor who is running his practice virtually.
Individuals who thought they could “self-insure” the risk of long-term care during these uncertain times may be reconsidering their decision. What would happen if a client had an incident today and needed to liquidate assets to pay for care when their portfolio is down 20%-30%?
