Now that industry lobbyists were successful in getting a favorable NAIC Suitability in Annuity Transactions model update, the real work begins to get states to uniformly adopt it. New York has already opted for a tougher set of rules, while other states such as Massachusetts are in the process of doing the same.

As agents and advisors prepare for the Security and Exchange Commission’s Regulation Best Interest standard, some questions remain, such as when money moves from a retirement account to a fixed annuity, does the rule cover the whole transaction?

One in four consumers can’t name one life carrier and more than half can’t name three, according to a LIMRA report that shows life insurance companies have a long way to go in marketing.

There is no reason to expect any change in the Beltway distribution of power, said Chip Roame, managing partner of Tiburon Strategic Advisors. Speaking during a regular conference call Thursday, Roame said President Donald J. Trump is on track for another four-year term.

Valentine’s Day brings thoughts of roses and chocolate, but have your clients thought about giving peace of mind? LIMRA is joining Life Happens with its “Insure Your Love” campaign, which highlights the importance of protecting the ones you love through the purchase of life insurance.

Transamerica’s chief investment officer sees the 2020 market environment as investor-friendly, or what he calls a “Goldilocks” scenario:  an economic and market backdrop not too hot or too cold, but just enough for stock and bond investors to generate good returns in the year ahead.

State insurance commissioners voted today to sent a strengthened annuity sales model law that adds a best-interest standard to the states for adoption. The successful vote came over the strenuous objections of New York Superintendent of Financial Services Linda Lacewell.

Although the economy may seem strong, it is not reaching poor communities, where the cycle of debt is pulling generations under poverty, according to a report.

Security Benefit is asking a Florida court for a stay in a lawsuit challenging its use of proprietary indexes until a similar lawsuit is decided in a Kansas City appeals court. Both lawsuits claim the company’s use of the proprietary index amounted to racketeering.

Your client is about to get a windfall, courtesy of the IRS. What should they do with their tax refund? Splurge on something? Sock it away? Make an additional principal payment (or two) on their mortgage or their student debt?

A Florida bill that would prohibit insurers from using customers’ genetic information in changing, denying or canceling policies cleared another Senate committee Tuesday. The bill, opposed by industry, appears to have broad, bipartisan support.

State regulators appear to be approving more long-term care insurance rate increases than in the past, even as work continues to establish a consistent national rate review process. Genworth and Prudential appeared before South Carolina regulators and residents last week to explain its rate-hike requests there.

A Missouri insurance agent who used a lead-generation mailer advertising “FREE government benefits” was fined by both the Iowa Insurance Division, as well as the state attorney general. Officials said the mailers targeted older Iowans, some of whom were confused by the advertising.

In October 2017, the National Association of Insurance Commissioners adopted its Insurance Data Security Model Law and sent it to the states for legislative consideration. States were slow to respond at first, but a wave of state legislatures are set to adopt the NAIC model law.

The New York Department of Financial Services would gain much bigger fining power if the governor’s budget is adopted. With the DFS having recently enacted fiduciary like rules for all sales of life insurance and annuities, Cuomo’s proposal has implications for insurers.

Through his company, Ronald Leger sold “at least” $3.7 million fractional interests in life settlements to 29 investors, the complaint reads. The Massachusetts Securities Division is in the process of finalizing a fiduciary rule to tighten the rules for all financial advice and sales.