The government shutdown is moving into week five and the damage is beginning to show. The direct economic damage is estimated at around 0.50 percent so far, which is material in an economy expected to grow around 2.5 percent in the first quarter. Slower growth is an inevitable result of the slowdown.
LIMRA research points out that retirement plan access is the top reason American workers start saving for retirement. Nearly 4 in 10 of all workers said they began to save for retirement because their employer offered a retirement savings plan.
Contact sports, most acutely football, are facing a stark, new threat: an evaporating insurance market that is fundamentally altering their economics, squeezing and even killing off programs faced with higher costs and a scarcity of available coverage, a new ESPN report finds.
Sometimes it’s not what they do, it’s what they don’t know how to do.
White Glove Workshops, a digital marketing company specializing in planning, promoting and managing educational seminars for professionals in the finance, insurance, real estate and legal industries, has hired former National Planning Corporation CEO and president John C. Johnson.
Understanding how this significant influx of retirees will impact the market is critical to being able to capitalize on the nearly $35 trillion in financial assets they hold.
LPL Financial broker Lance Browning refiled a lawsuit Friday seeking damages from Ohio National’s surprise decision to cut trail commissions on certain variable annuities. The plaintiff strategy is shifting from a class-action request to individual lawsuits on behalf of brokers, an attorney said.
Benefits were paid on more than 303,000 policies and passed the $10 billion mark for the first time. According to a trade association, in 2017, total claims amounted to $9.2 billion paid to about 295,000 individuals.
NAIC To Reopen IUL Illustrations Guideline
Less than four years after producing Actuarial Guideline 49, the NAIC is ready to tackle indexed universal life illustrations yet again. An IUL illustration subgroup has a 2019 charge to “provide recommendations for modifications to AG 49.”
Despite much speculation from various industry sources saying that the SEC could have a final Regulation Best Interest rule as early as the first quarter, no one knows when in 2019 to expect the final ruling. The government shutdown has likely put work behind schedule and little is getting done, analysts say.
Wells Fargo CEO Tim Sloan addresses criticism of the bank and its recent missteps.
States are expected to pick up the ball on regulation after a December federal court decision ruled the Affordable Care Act “invalid.” A judge determined that the 2017 tax cut bill knocked the constitutional foundation from under the health care bill by eliminating the individual mandate penalty.
The Department of Labor’s fiduciary rule muted annuity sales early in 2018, but sales ended the year promising as the industry forged ahead with procedures and policies designed to help increase clarity and simplicity, and provide even greater access and understanding to advisors and investors. So what lies ahead?
Here is a list of five things to check at the beginning of every year to help ensure that your legacy still aligns with your life in its current state.
In current assumption UL, the growth of the policy’s cash value is based on a flat crediting rate that is established by the insurance carrier and adjusted from time to time. The unique policies have come under fire from some longtime clients who say the promises made at time of sale have not materialized.
MIB Group recently signed an agreement with Epic to utilize its electronic health records system. Under the agreement, MIB’s 400 U.S. life insurance members will be able to access electronic health record (EHR) data via Epic’s Chart Gateway for life insurance underwriting.
The year in life insurance and annuities featured lots of surprising news about companies moving in and out of the business. In addition, sales numbers hit new lows before bouncing back at year’s end, and new products and strategies also attracted reader interest.
High out-of-pocket health care costs and the future of the Affordable Care Act dominated the health news in 2018. As the population continues to age and the cost of providing care to that aging population continues to be a concern, readers also were interested in developments to the LTCi market.
Ohio National responded to a pair of lawsuits filed in the Southern District of Ohio court seeking to overturn its decision to cut trail commissions on certain variable annuities. The insurer denied all claims by an Arkansas broker-dealer, while asking the court to dismiss a lawsuit by a Texas broker.
