Total 2018 annuity sales increased 14 percent to $232.1 billion, compared with 2017 results, according to LIMRA. Rising interest rates and the elimination of the Department of Labor fiduciary rule are seen as factor boosting annuity sales, which are the best LIMRA has seen since it began tracking sales.
A National Association of Insurance Commissioners’ working group debated its annuity sales model throughout 2018 — mostly without success due to a few thorny issues. Finally, they put out a draft rule that skipped over many of those issues and accepted comments through Feb. 15. Those comments were released today.
Arthur J. Gallagher & Co. acquired Partners Advantage Insurance Services and AMZ Financial Insurance Services on Jan. 28. The move marked the first substantial entry by Gallagher into the independent marketing organization channel of insurance distribution.
Bringing in the right candidates is often the most important step a business takes to grow.
The average American will hold at least eight jobs during their lifetime and the term life insurance benefit provided will most likely also terminate when the decision to part ways is made. Because of this, it is important to separate the employment insurance from personal insurance.
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More than one quarter of the 800,000 federal employees who were affected by the federal government shutdown withdrew money from their retirement funds to help make it through the 35 days in which they did not see a paycheck, according to a Prudential study.
Seventy percent of the financial services executives surveyed said their institutions have either recently completed an update of their risk management program or have one in progress.
Millennials are a lot more focused on hard statistics, scientific methods, historical trends and technology-focused ways to analyze and invest efficiently. Compared to older generations, they are much more likely to make an investment decision based on the methodology and statistics. Knowing how generations think can help advisors connect with new clients.
With its LTC rider, SmartCare arrives at the intersection of two key retirement trends: rising costs of long-term care and increasing life expectancies. It is estimated that 50 percent of Americans turning 65 today will require some form of long-term care, with average lifetime long-term care expenses of $266,000, Brighthouse noted.
A National Association of Insurance Commissioners’ subgroup had disagreement today during its first conference call today on IUL illustrations. The issue is whether IUL multipliers are fooling consumers into under-funding policies, or an appropriate risk-reward option.
A National Association of Insurance Commissioners’ subgroup will resume discussions Tuesday on controversial indexed universal life illustrations. The group is expected to discuss how to illustrate products with different attributes, and whether to consider capping the credited rate.
Facing competitive pressure from start-ups and tech giants, traditional insurers are being forced to embrace innovation and change at a rapid pace.
The Alliance for Lifetime Income, formed last year to promote retirement income options, has signed on as the sole sponsor of The Rolling Stones’ 2019 “No Filter” U.S. stadium tour. The tour kicks off April 20 at the Hard Rock Stadium in Miami and continues into late June.
After working through some challenges related to regulation, capital flow and underwriting, the life settlements industry is coming off another year of growth in 2018 and seems poised to remain on that steady growth trajectory.
Known as the Retirement Enhancement and Savings Act, the bill was initially introduced in previous session. It was re-introduced by Reps. Ron Kind, D-Wisc., and Mike Kelly, R-Pa., as the House Ways and Means Committee conducted a hearing Wednesday on retirement security.
Analytics are crucial to the future of life insurance and every carrier is in an arms race to get a 360-degree view of the people they serve or want to serve. The more data that is collected about a customer base, the better job insurers and agents can do in reaching those customers.
Ohio National tells a federal judge that “and” is the key word in its selling agreements. If the judge agrees, then the insurer’s controversial decision to end trail commissions on certain variable annuity contracts might stand.
A letter signed by 14 IMO executives was sent last month to the leading trade associations that represent annuity sellers. They say trade groups are too accepting of best-interest ideas put forth by the National Association of Insurance Commissioners.
