Sen. Bernie Sanders, I-Vt., is proposing legislation to eliminate the estate tax. Called the For the 99.8% Act, it would raise $2.2 trillion from the nation’s 588 billionaires. The proposal comes two days after Senate Republican leadership proposed a bill to repeal the estate tax.
Parents are prioritizing debt reduction at the expense of long-term financial planning, a survey showed. A New York Life survey found that 72 percent of parents identify debt reduction as a top financial priority for 2019. That number is even higher for millennial parents (ages 18-34), with 80 percent planning to focus on debt reduction this year.
New analysis finds that just 26 percent of the total life insurance coverage needed is being met. The result is $70 billion in lost premiums for the industry. The report found that insurance companies are missing out on an average of $785 in annual life insurance premium payments per person who requires insurance coverage in the U.S.
Although the next couple years are expected to fall short of the 3 percent annual growth goal set by the Trump administration, the current economic expansion is the longest in history. And growth will remain positive at least for the foreseeable future, a Nationwide economist said.
Agents can better manage client purchases – and travel expenses – by investing in automated expense management technology. This eliminates all manual entry, better organizes and tracks expenses, and ultimately saves agents lots of time and money.
Traditionally, customers buying insurance products and financial services have had little or no voice in the purchasing cycle. Up until now, this approach has enabled carriers to retain business, despite the plethora of offerings in the marketplace. That is changing — and fast.
Even if the stock market rebounds from last year, a fixed indexed annuity still provides more retirement income than the same investment in the S&P 500. The major drawback is liquidity, but this is where an advisor can make the difference through effective planning.
Arthur J. Gallagher & Co. is acquiring Partners Advantage Insurance Services, a blockbuster deal that gives the Chicago-based insurance giant an entry into the insurance marketing organization space. Established in 1927, AGC is the third-largest insurance broker in the world.
An aging population and a greater need for retirement income are factors behind the prediction.
You and your firm should have one goal – make sure the client wins!
Market volatility and loss make this the right time for clients to turn to the security of a fixed indexed annuity.
Released last week, Nevada is seeking comments on its fiduciary duty proposal by March 1. Under the proposal, broker-dealers and sales representatives are subject to a fiduciary duty when providing investment advice. But they can qualify for an episodic exemption if they need the criteria.
A study of health insurance marketplaces in 10 states showed more insurers participated in the exchanges and premium increases began to level off. Researchers found that insurers were more willing to enter new markets in time for the 2019 enrollment season, a big change from 2018.
Voya Financial’s newest product is a suite of health saving and spending accounts to be offered as optional workplace benefits.
The business to be transferred, which has been marketed under the Great-West Financial brand, includes bank-owned and corporate-owned life insurance, single premium life insurance, individual annuities, and a portion of Great-West’s closed block life insurance and annuities.
One in five caregivers – an estimated 15 million people – is “unbanked,” meaning they do not have a savings or checking account at an insured banking institution, LIMRA research found.
In a report released last week, the Maryland Financial Consumer Protection Commission is recommending that a “fiduciary duty standard” be placed on broker-dealers and insurance agents doing business in the state. Companion legislation is expected to be introduced soon, state officials say.
LIMRA is expects U.S. individual life insurance sales to rise 3 percent to $15 billion this year. Growth will be primarily driven by gains in disposable income and bond rates, coupled with low unemployment, the research organization reports.
High-deductible health plans are going the way of corporate wellness programs and disease management programs – consumers don’t like them and are pushing back against them, says one health care expert. Benefits brokers are going to have to evolve much like stockbrokers did 20 years ago.
