INDIANAPOLIS – (June 3, 2020) OneAmerica® today announced its 2019 financial results, recording another solid year of growth, highlighted by…
Read morePlenty of companies have discovered how challenging the switch from in-house to remote operations can be. However, there are simple shifts your company can make to ensure success.
The 4% rule doesn’t apply in today’s low-interest world, said a retirement researcher who also is the author of several books on retirement planning and spending.
The COVID-19 crisis has given many of us an unexpected blessing in the form of a pause, a business coach told financial professionals.
More fee-based products, new channels and growth in direct-to-consumer sales are some trends Chip Roame expects in the coming years. Roame, managing partner of Tiburon Strategic Advisors, characterized insurance products as being in a natural transition phase.
HARTFORD, Conn., June 3, 2020/ PRNewswire/– USAA Life Insurance Company, a provider of a wide range of insurance products and services and NEOS, a management consulting and delivery services firm specializing in insurance and financial services, recently worked to facilitate USAA’s expansion into third-party distribution. Previously, USAA products were…
Department of Labor officials alerted the White House Monday that is has completed work on a reworked rule to regulate investment advice to workers and retirees. Known the “DOL fiduciary rule” when proposed by former President Barack Obama’s DOL, an appeals court tossed out the rule in 2018.
–Fidelity National Financial, Inc. and FGL Holdings, today announced the completed acquisition of FGL Holdings by FNF on June 1, 2020. “We are excited to have closed the acquisition of F&G ahead of schedule and are thrilled to welcome F&G’s employees and policyholders into the FNF family,” commented FNF Chairman William P. Foley, II. BofA Securities and Trasimene…
JACKSONVILLE, Fla. and GEORGE TOWN, Cayman Islands, May 28, 2020/ PRNewswire/– Fidelity National Financial, Inc. and FGL Holdings today announced the preliminary results of the elections made by F&G shareholders regarding the form of merger consideration they wish to receive pursuant to the previously announced merger agreement pursuant to which FNF will…
The Arizona House of Representatives this week approved and sent to Gov. Doug Ducey a bill to adopt a model regulation for annuity sales that requires financial professionals to act in the best interests of the consumer.
Equitable, a leading financial services company and subsidiary of Equitable Holdings, today announced it is working with BlackRock to provide simplified access to lifetime income through an annuity within a new target date investment solution for BlackRock’ s U.S. defined contribution plan clients.
JACKSONVILLE, Fla. and GEORGE TOWN, Cayman Islands, May 26, 2020/ PRNewswire/– Fidelity National Financial, Inc. and FGL Holdings today announced that FNF has received all regulatory approvals and clearances necessary to close the transaction under the previously announced merger agreement pursuant to which FNF will acquire F&G. FGL Holdings- the F&G family of…
The AiPEX family of indices was developed by EquBot and leverages the AI capabilities of EquBot and IBM Watson™ to turn Big Data into investment insight. Applying what has been learned through Big Data and AI, AiPEX uses a rules-based process to objectively evaluate each of the 1,000 largest U.S. publicly traded companies and selects those whose stock prices…
The interest rate aspect doesn’t yet receive the attention it deserves, likely because no one has any real-life experience with 0% rates in the U.S. The implications are not all positive. From a macro standpoint, 0% rates deprive the Federal Reserve of one of its most used economic tools.
Annuity carriers are always making changes to their products. But those changes came fast and furious during the month of March, as the COVID-19 pandemic sent shock waves through the financial industry. Now, two months later, some carriers are returning the products to the market.
Despite COVID-19, deferred annuity sales remained strong in the first quarter at $52.7 billion, a slim 1.1% decline, according to Wink’s Sales & Market Report. The pandemic affects came late in the first quarter, industry sources note, and its impacts might be seen in second quarter results.
Registered index-linked annuity (RILA) sales were $4.9 billion in the first quarter 2020, up 38% from the prior year results, according to final results from the Secure Retirement Institute U.S. Individual Annuity Sales Survey.
In uncertain times, don't let fear keep you from planning for the future. Whether you're young or retired, there are several unprecedented opportunities to strengthen your finances right now.
Equitable reported enhancements to its Structured Capital Strategies PLUS registered index-linked annuity that offers clients some upside potential even when the S&P 500 benchmark index goes down. According to a media release, the new feature, Dual Direction, is available within SCS PLUS annuities with the S&P 500 as the benchmark index.
Prudential Financial, Inc., launched FlexGuard℠ today, the company’ s first indexed variable annuity product, designed to provide customers with downside protection and the opportunity to grow and accelerate the performance of their retirement assets into the future. Dylan Tyson, President, Prudential Annuities. “FlexGuard is a first for Prudential and…
JOHNSTON COUNTY, N.C.- Wade Harmon, of Kenly, bought a single $300,000,000 Supreme Riches scratch-off ticket on his way home from work and won $10 million, the largest scratch-off prize in the stat, according to an NC Education Lottery news release. Harmon said he played Pick 3 and Pick 4 and tried his luck on a single $30 scratch-off ticket. Harmon, an iron worker,…
At a time when investors value protection most, Lincoln Financial Group expands its flagship, industry-recognized solution, Lincoln Level Advantage ® indexed variable annuity, with two new options that offer investors more ways to help grow their savings with a level of protection during market downturns and uncertainty. In April 2020, LIMRA Secure…
NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services company and subsidiary of Equitable Holdings (NYSE:EQH), today announced enhancements to its Structured…
LOUISVILLE, KY. (May 12, 2020) – DPL Financial Partners (“DPL”), the leading insurance network for registered investment advisors (“RIAs”), today…
Brighthouse Financial executives celebrated a successful first quarter Tuesday driven by a 15% increase in annuity sales year over year, and a 33% increase in life insurance sales.
Equitable, a leading financial services company and subsidiary of Equitable Holdings, today announced enhancements to its Structured Capital Strategies ® PLUS registered index-linked annuity that offers clients some upside potential even when the S&P 500 benchmark index goes down. The new feature, Dual Direction, is available within SCS PLUS annuities…
The Iowa Insurance Division adopted a best interest rule applying a new standard to the sale of annuities and other insurance products. The new rule is based on a best-interest model rule adopted by the National Association of Insurance Commissioners.
Brighthouse Financial, Inc. announced today its financial results for the first quarter ended March 31, 2020. The company ended the first quarter of 2020 with common stockholders’ equity of $20.0 billion, or $198.62 per common share, and book value, excluding accumulated other comprehensive income of $17.3 billion, or $172.28 per common share.
Ameriprise reported strong first quarter financial results lead by their advice and wealth management business as clients sought the expertise of financial planners in the volatile markets. “While market conditions and the operating environment remain fluid, Ameriprise is in a strong position,” said chairman and chief executive Jim Cracchiolo in a news…
Annuity sales fell to $705 million, down 43% from the total for the year-earlier quarter, American Equity reported. A leading provider of fixed indexed annuities, the company will be making changes to its product portfolio and approach, CEO Anant Bhalla said today.
Genworth reported a first-quarter loss of $66 million, after reporting a profit in the same period a year earlier. The quarterly report comes two days after Fitch Ratings downgraded Genworth’s financial strength ratings from CCC+ to CCC.
WEST DES MOINES, Iowa, May 05, 2020 (GLOBE NEWSWIRE) — To meet growing client concerns about market volatility, North American…
–To meet growing client concerns about market volatility, North American Company for Life and Health Insurance ® is launching access to a new index designed by Fidelity for use in its crediting strategies. The index combines key factors in such a way to help enhance returns and manage risk given the current volatility of today’ s markets.. “Any index seeks to…
Plenty of companies have discovered how challenging the switch from in-house to remote operations can be. However, there are simple shifts your company can make to ensure success.
American International Group, Inc. today reported net income attributable to AIG common shareholders of $1.7 billion, or $1.98 per diluted common share, for the first quarter of 2020, compared to $654 million, or $0.75 per diluted common share, in the prior year quarter. Adjusted after-tax income attributable to AIG common shareholders was $99 million, or…
–Ohio National Financial Services is pleased to announce it has launched the ONdex annuity, a new single premium fixed indexed annuity designed to help customers reach their long-term retirement goals. Through our network of financial professionals across 49 states, the District of Columbia and Puerto Rico and through affiliated operations in South…
MINNEAPOLIS – May 4, 2020 – To help clients address risk that market volatility can have on retirement security, Allianz…
Insurance Agency Marketing Services, Inc., a leading national independent marketing organization, announces Christopher Conroy has joined the firm as executive vice president of national accounts and principal.
–LPL Financial Holdings Inc. today announced results for its first quarter ended March 31, 2020, reporting net income of $156 million, or $1.92 per share. This compares with $155 million, or $1.79 per share, in the first quarter of 2019 and $127 million, or $1.53 per share, in the prior quarter. “Over the past several years, we have built a strong and resilient operating…
Stress from COVID-19 was a slight drag on Principal Financial in the first quarterly. One of the bright spots was an uptick in term life interest and activity.
The best way to make sure you have enough money to last you through retirement is to focus on the income you need to support yourself, rather than the “magic number” you'd need to save.
According to a recent Secure Retirement Institute study, only 1 in 4 consumers can correctly answer at least 7 out of 10 annuity-related questions. In addition, more than 40% answered “not sure” to each of the 10 questions.
The 4% rule doesn’t apply in today’s low-interest world, said a retirement researcher who also is the author of several books on retirement planning and spending.
Consumers and their financial advisors spend so much effort on accumulating retirement savings, but often lack a strategy for how to draw down those assets in the post-employment years. Could a sequence of returns deplete your client’s retirement savings?
Fixed-rate deferred and indexed annuity sales spiked in March as consumers flocked to safety. But the quarter was still a downer overall because of low sales in January and February.
Total fixed annuity sales were $29.5 billion in the first quarter, 22% lower than first quarter 2019, according to preliminary results from the Secure Retirement Institute U.S. Individual Annuity Sales Survey. The survey is the first to chart the impact on annuity sales by the COVID-19 pandemic.
The family of young girl who was severely scalded at a Wawa by a cup of hot water will receive a $3 million settlement from the convenience store chain. The girl was 3 years old when her family, which had been traveling in April 2018 from Virginia through Monmouth County, stopped at a Wawa store in Neptune. Her mother, Roya Konzman, had placed a number of food items on the…
BALTIMORE, April 20, 2020 /PRNewswire/ — Transamerica announces the availability of the Transamerica Advisory AnnuitySM, an innovative, low-cost, variable annuity offered and…
According to the new Secure Retirement Institute study, more than half (56%) of U.S. workers are interested in investing in a guaranteed lifetime income option within their employer’s retirement savings plan if it was available to them.
The health aspect of the coronavirus affects everyone— we're all concerned about our well-being and those of our loved ones and communities. However, the economic impact may vary among different age groups— and if you're retired or about to retire, you might have some special concerns about starting to draw income from your investments when the financial…
That’ s simple open architecture and a term we’ ve all been familiar with for years,” said James Olson, Managing Director with IPX.“ I call it Open Architecture Plus when referring to IPX and our unique annuity processing capabilities.”. The December 2019 passage of the SECURE Act drove heightened interest in IPX from annuity product providers. “Processing…
The COVID-19 crisis has given many of us an unexpected blessing in the form of a pause, a business coach told financial professionals.
If this recent bear market caught you unprepared, especially if you're in your 60s and older, it's time to remind yourself of some key best practices for retirement planning.
Perceptions about when retirement will start and what it will look like are much different from the experiences of people already in retirement, according to the new 2020 Retirement Risk Readiness Study from Allianz Life Insurance Company of North America. Although many non-retirees believe they will retire on their own terms, either because they will be…
Three insurers agreed to pay more than $2 million in restitution and penalties to New York for annuity replacement transactions that violate the state’s new best-interest standard. Regulation 187 went into effect for annuity sales on Aug. 1, 2019 and life insurance on Feb. 1, 2020.
The decision, announced by Sandy McCarthy, president of retirement services at OneAmerica, eliminates administrative fees for hardship and COVID-19 related distributions effective April 7, 2020 through December 31, 2020. The Coronavirus Aid, Relief, and Economic Security Act signed into law March 27, provides additional opportunities for those affected…
Marketing is essential for advisors to get their message out, but it is also essential that the message matches the tenor of our times. Here are five risks to watch out for during the COVID-19 pandemic.
RALEIGH, North Carolina and HOLON, Israel, April 6, 2020/ PRNewswire/– Sapiens International Corporation,, a leading global provider of software solutions for the insurance industry, announced today that Illinois Mutual Life Insurance, a company that services 47 U.S. states and serves over 8,600 independent agents, chose multiple Sapiens’ life solutions as part…
Market downturns can create annuity sales opportunities, but agents and advisors need to be taking steps to protect and prepare themselves because history will look back on how advisors and the industry conducted business during the crisis.
Risk tolerance is a personal question and varies depending on the individual, their target retirement age, their financial goals and other circumstances unique to their situation. The traditional thinking is that investors should de-risk into fixed investments as they age. Annuities can help answer a lot of questions in this planning process.
Jackson will integrate LifeYield’ s portfolio management tools into its existing digital toolset. The strategic alliance enables financial professionals who work with Jackson to use LifeYield’ s powerful technology suite to quantify the potential benefits of incorporating annuity products in client portfolios. “Clients recognize annuities can be a…
Pacific Life announced today that the company’ s two fee-based, advisory annuities, Pacific Odyssey ® and Pacific Index Advisory ®, are now available through DPL Financial Partners insurance network for independent registered investment advisers. “With recent market volatility, we know that RIAs are looking for strategies to deliver protection and…
The recent market crash presents an opportunity for advisors to ease their clients’ fears on everything from how to deal with future tax increases to how to generate lifetime retirement income,
