Nationwide’s move might set a precedent for other mutuals to sell exclusively in the independent channel.
Read moreAn annuity unveiled this week by Prudential Financial ushers in a new era of simplicity and affordability, company executives said….
Allianz is finding traction with fixed indexed annuities in the financial advisory world with the top-selling FIA in the independent broker-dealer channel.
It’s crunch time for clients who have not yet filed their income tax returns, and some clients may be feeling the pain of seeing how much tax they are paying on their investments.
WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today announced final fourth quarter sales results for the U.S. annuity industry, based…
Employees want to build their own pension with annuities through employers, according to a MetLife survey.
CHICAGO – New LIMRA Secure Retirement Institute (LIMRA SRI) research finds single retirees – particularly single women retirees – feel…
An annuity unveiled this week by Prudential Financial ushers in a new era of simplicity and affordability, company executives said….
Allianz is finding traction with fixed indexed annuities in the financial advisory world with the top-selling FIA in the independent broker-dealer channel.
New York, NY (April 3, 2018) – Simplicity Financial Marketing Group Holdings, Inc. (Simplicity) announced today that it has acquired…
It’s crunch time for clients who have not yet filed their income tax returns, and some clients may be feeling the pain of seeing how much tax they are paying on their investments.
The hybrid indexes control volatility in fixed indexed annuities, but some say that FIAs inherently protect against volatility already.
Low interest rates are being blamed after multi-year guaranteed annuity (MYGA) sales fell 9.5 percent to $30.3 billion in 2017 compared to 2016. MYGA sales were strong in the fourth quarter, however.
A long-delayed merger between Henrico County- based insurer Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. is being extended yet again as the proposed deal remains under review by some government regulatory agencies. Genworth, an insurance company with thousands of employees in Virginia, first announced in October 2016 that it had…
The 350 Independent Marketing Organizations serving independent agents could shrink by 30 to 50 percent due to pressing regulation on several fronts, experts say. Many IMOs will be looking to buy or sell for the foreseeable future.
The National Association of Insurance Commissioners voted Saturday to accept more comments for 30 days on its best interest rule for annuity sales. The model law draft has drawn criticism from both sides for being both too tough and too lenient.
What if you have a client who needs to make a significant withdrawal during a bear market early in retirement? That scenario can devastate a nest egg, and avoiding it takes plenty of planning.
Contract owners choose from indexed strategies with returns tied to the performance of the S&P 500 ® Index, iShares U.S. Real Estate ETF or the SPDR Gold Shares ETF. According to Joe Maringer, National Sales Vice President, Great American Life, the potential for stock market corrections could mean it is time for consumers to rebalance their financial…
It’s not necessarily because sales from independent agents are declining; it’s because sales through banks and broker/dealers are growing, said one industry expert.
Total indexed annuity sales for 2017 were $53.9 billion, a decline of 7.1 percent from the year prior, according to Wink’s Sales & Market Report.
In 2017, total annuity sales were $203.5 billion, a decline of 8 percent from prior year, according to LIMRA Secure…
Jackson National is behind the first fee-based fixed indexed annuity without a surrender charge, a product the company hopes will satisfy registered investment advisors skeptical of traditional annuities.
Advisors should give fixed indexed annuities (FIAs) a serious look because FIAs offer a compelling story in an era of low bond yields, according to Roger G. Ibbotson, one of the most recognizable names in finance.
–About 18 percent of all U.S. households own a deferred annuity, estimates the LIMRA Secure Retirement Institute, yet data suggest many annuities will never be activated for monthly income, leaving potential tax consequences for beneficiaries. “Americans have nearly $3 trillion in assets in fixed and variable annuities,” said Chris Coudret, vice president and…
Slumping sales of variable annuities did not stop the No. 1 seller of VAs from recording a strong 2017. Jackson National reported a 3 percent gain in operating income.
Some industry observers say demographic, regulatory and technology trends have generated new momentum for many RIAs to consider offering fee-based annuities. The potential for mutual growth is high, some say.
The National Association of Insurance Commissioners’ working group discussed its controversial annuity transaction model law today with little agreement. The NAIC effort to establish a best-interest standard has been fraught with disagreement so far.
New York Life reported another successful year in 2017, with record operating earnings of $2.06 billion and a record $1.8 billion dividend payout.
The National Association of Insurance Commissioners holds a conference call today to discuss the harsh criticism it has received from all sides on its best-interest standard model law.
Appeals court sides with lower court on Department of Labor’s treatment of fixed indexed annuities in its fiduciary rule. Market Synergy Group filed one of several industry lawsuits to stop the rule, which has since been delayed.
For a married couple, both age 65, there is a 50% chance that one spouse will live to be 92. “With the viability of private pensions and even Social Security coming into question, we realize that Americans need a retirement vehicle that will provide guaranteed streams of income that cannot be outlived. This concept was the core tenet to our development of the Target…
Washington state Attorney General Bob Ferguson issued the following news release:. Attorney General Bob Ferguson filed a consumer protection lawsuit today against CLA Estate Services, Inc. and CLA USA, Inc. for operating a “trust mill” by misleading hundreds of Washington seniors about estate planning, and persuading them to purchase high-commission…
The Massachusetts decision to charge Scottrade with Department of Labor fiduciary rule violations shows the lengthy reach of the DOL rule. Our Kim O’Brien explains the rule’s chilling potential.
Allianz Life’s Accumulation Advantage fixed indexed annuity (FIA) is designed to capture the appeal of advisors as they shift their FIA marketing efforts from income to accumulation.
Owners of fixed indexed annuities (FIAs) with guaranteed living income benefit (GLIB) riders are much less likely to surrender their contracts than they were 10 years ago, according to new research based on 3.3 million policyholders.
Additionally, Accumulation Advantage offers various index allocation options including a new volatility controlled index from BlackRock (R), the BlackRock iBLD Claria (TM) Index, which has also been added to other select Allianz Life FIAs. “In addition to the new accumulation product, we are excited to announce an exclusive partnership with BlackRock…
Ruark Consulting, LLC today released the results of its 2018 studies of fixed indexed annuity policyholder behavior. A record 16 variable annuity writers participated, comprising $215 billion in account value as of September, 2017.. “Getting actuarial assumptions right can mean the difference between profitability and anti-selection, or between…
Fee-based indexed and variable annuities are still posting small sales, but the numbers are rising. A key to future sales is whether the products catch on with registered investment advisors (RIAs), analysts say.
National Western Life maintains solid industry ratings, having once again garnered an “A” rating with A.M. Best Company and an “A” rating with Standard& Poor’s. NWL ® Core Dynamic and the NWL ® Pro Dynamic are now available through National Western Life’s network of independent distributors and advisors. National Western Life Insurance Company is a wholly owned…
Fresh off a $19 billion reinsurance deal with Voya Financial that closed in December, Athene CEO James Belardi said the company is open for business and hopes to close similar deals in 2018.
Advisors and brokers say fee-based compensation is a difficult transaction with many annuities. In addition, clients often save money over the long run sticking with the traditional commission-based model.
Prudential is venturing into the fixed indexed annuity space and might even include insurance agents as distribution.
Technology, regulations and low interest rates are all 2018 trends that will keep the U.S. life segment in the negative, analyst A.M. Best concluded in a new report. But it is not all bad news, the report found.
Keys parts of the annuity market stabilized in the fourth quarter, a sign that the industry might be recovering from the chilling Department of Labor fiduciary rule.
After six consecutive quarters of decline, the fourth quarter results for total annuity sales were flat, compared to this quarter last year, at $50.8 billion. This is a 9 percent rebound from the 16-year low in the third quarter of 2017.
A new versatile variable annuity comes with both floors and buffers, in both fee- and commission-based sales options. Great-West Financial said its new product gives investors and agents flexibility.
Brighthouse Financial, a major provider of annuity and life insurance solutions in the United States, announced today a new version of its FlexChoice variable annuity living benefit rider. The FlexChoice Access rider is the latest enhancement to the Brighthouse Financial annuity family, and reflects the company’ s ongoing commitment to driving greater…
Researcher shows why advisors should show clients how to boost their Social Security and save their retirement by leveraging annuities.
The Securities and Exchange Commission is again being pressured to limit who can call themselves an “advisor.” Does it even matter anymore? Our Kim O’Brien wonders about that.
A review of procedures used to estimate reserves related to group annuitants led Brighthouse Financial to financial adjustments negatively impacting its fourth-quarter numbers.
The National Association of Insurance Commissioners wants to produce a annuity transactions best interest model law each state could then adopt. But its draft law is drawing fire from both sides who consider it both too weak and too strong.
Brighthouse Financial reported a fourth-quarter annuity sales increase of 26 percent to $1.34 billion over the year-ago period. The company credited its popular buffered variable annuities (VA) for the strong showing.
When it comes to planning for long-term care, advisors and clients have three main options — self-insure, long-term care insurance and life insurance with a long-term care rider. All have positives and negatives.
_ Brighthouse Financial Inc. on Monday reported fourth-quarter net income of $668 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share. Brighthouse Financial shares have decreased nearly 1 percent since the beginning of the year.
The FIA will come in two flavors: a bonus version and a non-bonus version.
This comes as advisors value a higher payout over a death benefit, an annuity data tracking service has found.
Henrico County- based Genworth Financial Inc. said Tuesday it will take steps to address its upcoming debt maturity of about $600 million as it again seeks approval from government regulators to be acquired by a China- based company. Genworth, an insurance company with thousands of employees in Virginia, and China Oceanwide Holdings Group Co. Ltd. said they…
_ Genworth Financial Inc. on Tuesday reported fourth-quarter net income of $353 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Richmond, Virginia- based company said it had net income of 70 cents. For the year, the company reported net income of $817 million, or $1.63 per share, swinging to a profit in the period.
Lincoln Financial plans a May launch for its first buffered variable annuity. Buffered VAs are structured to protect buyers against most market losses – but not the huge losses – in exchange for a higher cap on credited interest.
–Addressing customers’ objectives for security and flexibility in their retirement planning, Transamerica has made enhancements to the Transamerica Retirement Income Max ® living benefit rider available with most Transamerica variable annuities. Transamerica Retirement Income Max is a living benefit available for new Transamerica variable…
Prudential Annuities, the domestic annuity business of Prudential Financial, Inc., has launched the PruSecure Fixed Indexed Annuity.
New York State officials raced ahead of the NAIC with its best-interest amendment covering life insurance as well as annuities. Now New York officials want the NAIC to include the stricter standard in its model law going out to all states.
