Insurance commissioners are wrestling with a rule change that would allow insurers to illustrate indexed annuities using indices that have been around less than 10 years. The NAIC working group needs at least one more conference call to finalize the amendment.
Cyber-generated insight engines can do a lot of work for advisors, including providing quick information. More technology is on its way, including chatbots, which are capable of speech, sight, and empathy through voice detection of satisfaction or exasperation.
Legislation introduced Wednesday by Sen. Bernie Sanders, I-Vt., would cap the size of the largest financial institutions so that a company’s total exposure is no more than 3 percent of GDP, about $584 billion today. The bill faces tough opposition from controlling Republicans.
A few creative new life insurance and annuity products hit the market recently, led by Allstate’s Monthly Income Term.
Ohio National will end broker compensation on existing variable annuity contracts with guaranteed minimum income benefit riders, the company announced last week. The decision is believed to be unprecedented and could wind up in court.
FINRA levied $25.9 million in fines during the first six months of the year, up from $23.5 million in the first half of last year, according to a new mid-year analysis.
The 6,000 fee-based advisors Nationwide serves now have an alternative to a commission-based SPIA at a time when advisors are busy experimenting with the types of fees they charge. Alternative models include hourly rates, tiered fee schedules, subscription services and retainers for high-net-worth clients.
In October 2016, Merrill Lynch became the first broker-dealer to announce it would eliminate commissions from IRA accounts in response to the Department of Labor’s fiduciary rule. Now the firm is reversing that decision — sort of.
Here are three reasons why dental coverage is a core benefit for your group clients.
With employees now looking to the workplace for more protection products, the role of the broker/consultant and carrier is more valuable than ever before.
How agents talk to clients goes a long way toward whether they earn a sale or not. But these days, it’s more about using words that clients can understand — “cost” instead of “premium,” for example. The benefits of better communication could be significant.
New standalone long-term care insurance contracts issued today have a much lower chance of facing big rate hikes than policies issued in the past, a new survey of actuarial experts has found.
Start-ups are working to improve agent-centric technologies as well as integrate agency and insurer systems.
Insurance companies see adding annuities to platforms such as Envestnet as vital as advisors grow more fiduciary-focused.
The new long-term care insurance product reduces premium and drops elimination periods in favor of deductibles and an 80/20 cost share.
A booming economy combined with generous tax cuts has the affluent class increasing in numbers. Affluent households, or those with more than $100,000 income, grew by 30 percent between 2012 and 2016.
Brighthouse says the new products are positioned to respond to demand from rising interest rates.
In his new role, Mark Holweger will focus on continued business growth with an emphasis on investing in LGA’s distribution channels.
As Hurricane Florence ravaged Carolina communities, some insurers based there closed their doors, with many setting up emergency numbers to help affected clients and policyholders. Storm damage is estimated at about $3 billion.
