A California insurance agent is accused of selling an annuity to a man diagnosed with dementia and then helping the man’s relative withdraw $700,000 from the annuity, incurring $92,000 in charges.
Grow, specialize, merge or die. That’s the message to broker-dealers struggling with thinning profit margins, according to a new report by Cerulli Associates.
The SEC best-interest rule includes words and meaning that could conflict with the way state suitability standards are interpreted, said Iowa Insurance Commissioner Doug Ommen. The two groups plan to meet to iron out those differences.
Eighty seven percent of workers whose employer enables them to manage life in and outside of work are more loyal and satisfied, according to a MetLife survey that found workers want to be treated like whole people.
As workers struggle with ever-increasing deductibles and co-pays for hospitalization, employers can help with a benefit that steps in if an employee needs it. The Unum plan would offer 10 levels of fixed cash benefits ranging between $500 and $5,000 per person per calendar year.
Health insurers must guide consumers to the most cost-effective health measures and medical treatments as seamlessly as Amazon Prime serves up suggestions for bedspreads to match the sheets you just bought.
Emotional intelligence plays a critical role in helping clients successfully navigate their financial lives.
First quarter sales of Brighthouse Financial’s Shield brand of index-linked annuities soared 59 percent over the year-ago period to $729 million.
Lincoln To Offer First Buffered VA
Lincoln Financial is jumping into the booming buffered variable annuity market with its first product next month.
A mystery shopper found that insurance companies are not putting their best selves forward online. Most of the shortcomings arise from the lack of follow-through.
The NAIC suitability standard has been a big success since it was adopted in 2010, two industry veterans argue. So why are state and federal regulators in a hurry to replace it with a best-interest standard that may or may not help consumers?
A new service intends to rank advisors against one another based on performance managing money. Is it a fair and worthwhile endeavor?
Leading insurance company execs are cautiously optimistic that the near death of the Department of Labor fiduciary rule will result in a much better rule from other regulators.
MetLife has a four-point plan to find annuitants after the company discovered it failed to pay nearly a half a billion dollars over decades.
Voya Financial will save up to $130 million in annual expenses after the company sells its annuity business, chairman and…
New York State Revises Best-Interest Reg For Annuities, Life Insurance
New York State officials are back with a revised best-interest standard for annuities and life insurance. A 60-day comment period prompted several changes to the regulation, state officials said.
Agent pruning and lower unemployment may be factors in the falling agent count at Bankers Life, said CNO Financial CEO…
New evidence shows data thieves are increasingly targeting the financial services industry. Surveys show Americans have little trust in the safety of their personal data, something experts say financial services should be proactive to correct.
The Fifth Circuit Court of Appeals denied motions by AARP and three states today to intervene and argue in favor of saving the Department of Labor fiduciary rule. Chances of the rule’s revival are seen as remote.
