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LibertyMark Freedom Fixed Indexed Annuities Launch

2 hours ago Annuity News No comments.

Legacy Marketing Group ® today announced the launch of LibertyMark Freedom, the next generation of its top-selling FIA, issued by“ A” rated* Americo Financial Life and Annuity Insurance Company. This proprietary index option, laser focused on high performance power, capitalizes on U.S. markets and offers low volatility. “By partnering a strong focus on high…

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Nationwide Adds BNP Paribas Global H-Factor Index To FIA

May 16, 2022

Columbus, OH—May 16, 2022—Nationwide announced today the addition of the BNP Paribas (BNPP) Global H-Factor® Index to the Nationwide Peak®…

Transamerica Launches Structured Index Advantage Annuity

May 16, 2022

May 16th, 2022 Transamerica announces the launch of the Transamerica Structured Index Advantage Annuity, a registered index-linked annuity that is designed to…

May 10, 2022

Recommending FIAs: Start With The Client’s Objective

With the increased popularity of fixed indexed annuities, insurers have become more creative in some design of FIA features and benefits.

NC Man Wins First $5 Million Prize In Scratch-Off Game

May 5, 2022

GREENVILLE, N.C.– Mario Delgado, of Winterville, bought a $30 scratch-off ticket and became the first winner of a $5 million prize in a new lottery game, according to an NC Education Lottery news release. Delgado bought his lucky 200 X The Cash ticket from the Speedway on North Memorial Drive in Greenville. He could choose to receive the prize as an annuity of $250,000…

May 3, 2022
A California insurance agent is accused of stealing from clients.

Former California Agent Allegedly Steals $48,000 From Elderly Clients

The investigation also found Alan Douglas Armstrong convinced his clients to withdraw funds from one annuity and then months later purchase a new annuity, hiding that the source of funds was from a terminated annuity.

May 3, 2022
Annuity sales continue to climb, SRI reports.

Fixed Annuity Sales Boom After 1Q Interest Rate Hikes, SRI Finds

Fixed indexed annuity sales were $16.3 billion, 21% higher than prior year. Fixed-rate deferred annuity sales increased 10% in the first quarter, year-over-year to $16 billion.

RetireOne Partners With Dr. Michael Finke On Research Exploring Portfolio Income Insurance

April 26, 2022

SAN FRANCISCO–(BUSINESS WIRE)–RetireOne today released new research from Michael Finke, PhD, CFP, entitled, “Portfolio Income Insurance: Understanding the Benefits of a Contingent Deferred Annuity.”…

Allianz Life Introduces Multi-Year Point-To-Point Crediting Methods On Select FIAs

April 26, 2022

MINNEAPOLIS – April 12, 2022 – To help clients address the risks that market volatility can have on their retirement…

Wisconsin The Latest State To Adopt New Annuity Sales Regs

April 16, 2022

Legislation signed into law today by Wisconsin Governor Tony Evers greatly enhances protections for consumers seeking lifetime income from annuities. Wisconsin is the 23rd state that as part of a nationwide, bipartisan effort has adopted measures implementing the' best interest of consumer enhancements' in the National Association of Insurance…

AIG Life & Retirement Introduces 5-Year Index Annuity For New York

April 14, 2022

AIG Life& Retirement, a leading provider of annuities, today announced the launch of Power Index 5 NY SM, a 5- year index annuity developed exclusively for New York and the latest addition to The Power Series of Index Annuities ®. Power Index 5 NY is issued by The United States Life Insurance Company in the City of New York, a member company of American International…

Eagle Life Announces New Indices, Growth Options For FIA Products

April 14, 2022

Eagle Life Insurance Company ®, a provider of fixed and fixed index annuities, has announced several enhancements designed to broaden diversification options and boost growth opportunities on its fixed index annuity portfolio. New indices and rider enhance growth, diversification options. “We specifically added these new indices, along with the…

Maryland Enhances Protections For Annuity Consumers

April 14, 2022

WASHINGTON, April 12– The American Council of Life Insurers issued the following joint statement with two organizations:. American Council of Life Insurers President and CEO Susan Neely, National Association of Insurance and Financial Advisors' former president and NAIFA MD member Paul Dougherty, and The League of Life and Health Insurers of Maryland…

April 7, 2022
Annuity sales recovered ground lost to the pandemic and then some in 2021.

Annuity Sales Boom Again In 2021, Morningstar, Beacon Report

Sales of fixed and variable annuities were $233.1 billion in 2021, an increase of 12.3 percent over 2020 sales of $207.5 billion and the highest annual annuity sales since 2008.

The Standard Rolls Out Enhanced Choice Index Annuity

April 7, 2022

Recognizing an increased need for greater flexibility and adaptable options for clients, The Standard announces an expansion of its annuity offerings with the new Enhanced Choice Index. “This product series allows The Standard to offer volatility-controlled indexes and an enhanced participation rate feature for the first time,” said Rich Lane, vice…

AM Best Upgrades Credit Rating Of Prudential Insurance And Annuity Co.

April 5, 2022

AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating to“ aa” from“ aa-” and affirmed the Financial Strength Rating of A+ of Prudential Retirement Insurance and Annuity Company, headquartered in Newark, NJ. The outlook assigned to the Credit Ratings is stable. The rating actions reflect full rating…

Prudential Completes Sale Of $31B Block Of Variable Annuities To Fortitude Re

April 1, 2022

NEWARK, N.J.& JERSEY CITY, N.J.—- Prudential Financial, Inc. and Fortitude Group Holdings, LLC, the parent company of Bermuda’ s largest multi-line reinsurer, today announced the completed sale to Fortitude Re of a portion of Prudential’ s legacy traditional variable annuity block. Consistent with the agreement announced on Sept. 15, 2021, Fortitude Re has acquired…

Fortitude Re Closes $4B Annuity Reinsurance Transaction With Taiyo Life

March 31, 2022

FGH Parent, L.P.,, today announced the signing and closing of a $4 billion reinsurance transaction between its subsidiary Fortitude Reinsurance Company Ltd., Bermuda’ s largest multiline reinsurer, and Taiyo Life Insurance Company, a wholly owned subsidiary of T&D Holdings, Inc. Sidley Austin LLP and Mori Hamada& Matsumoto served as legal counsel to Fortitude Re.

AIG To Rebrand Its Life & Retirement Business As Corebridge Financial

March 28, 2022

American International Group, Inc. today announced that it plans to rebrand SAFG Retirement Services, Inc., the parent company of its Life& Retirement business, as Corebridge Financial, Inc. when it becomes a public company. Any separation transaction will be subject to the satisfaction of various conditions and approvals, including receipt of insurance…

Guardian Life Insurance Company Unveils News FIA

March 28, 2022

The Guardian Life Insurance Company of America unveiled the Guardian Secure Index Annuity, with an optional guaranteed living benefit rider…

AIG Life & Retirement Receives Industry Recognition For Annuity Service

March 23, 2022

AIG Life& Retirement today announced that it has received the Customer Experience Excellence Award from DALBAR, a leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. AIG Life& Retirement is the only company to have won the Customer Experience Excellence Award in annuities,…

March 17, 2022
The Fed is set to raise interest rates again this week.

2021 Annuity Sales Shake Pandemic With 16.5% Increase, Wink Finds

Total 2021 deferred annuity sales of $243.6 billion represented a major bounceback year for the industry, according to new Wink’s Sales & Market Report data.

BGA Insurance Group Joins AmeriLife To Deliver Financial Products

March 11, 2022

AmeriLife Group, LLC, a national leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions, announced today that it has partnered with Bachmeier, Gudis and Associates, a highly rated, national insurance marketing organization that distributes a deep, competitive portfolio of Medicare, life and…

Tomorrow’s Retirees Feel Less Financially Secure Than Today’s, IRI Survey Reveals

March 10, 2022

WASHINGTON, D.C. – A recent survey of retirees and near-retirees demonstrates the comparative financial security today’s retirees enjoy, in contrast…

March 10, 2022
Americans are socking money away in annuities again and sales are back to 2008 levels.

2021 Annuity Sales Highest Since The Great Recession, SRI Reports

Investors wary of increased market volatility and growing inflation drove total U.S. annuity sales to the highest levels since 2008, and the third highest recorded in history, according to results from the Secure Retirement Institute.

TIAA Traditional Interest Rates Increase 21%, Boosting Annuity Values

March 9, 2022

TIAA to credit over $7 B in 2022 for flagship offering: "Helping Americans have a dignified retirement is in our DNA." Through this latest increase, TIAA will share $2.3 billion of interest on top of the $5 billion of interest it has already guaranteed, bringing the total amount credited to Traditional investors to well over $7 billion this year.

South Dakota The Latest State To Pass Best Interest Annuity Sales Rules

March 9, 2022

FALLS CHURCH, Virginia, March 9– The National Association of Insurance and Financial Advisors issued the following joint statement with American Council of Life Insurers:. American Council of Life Insurers President and CEO Susan Neely and NAIFA-SD President Jennifer Soma issued the following joint statement on the best interest annuity law recently…

Reliance Standard Launches New Annuity Product: Reliance Accumulator

March 8, 2022

Reliance Standard Life Insurance Company has introduced a new annuity product for use by individuals seeking to preserve capital and generate steady returns.

AIG And Annexus Launch X5 Accelerator Annuity

March 7, 2022

NEW YORK – March 7, 2022 – AIG Life & Retirement announced the launch of the X5 Accelerator Annuity in…

March 3, 2022
Annuity sales could get stronger with growth potential among young, affluent investors.

Study: Annuities Poised For ‘Exceptional Growth’ With Young Investors

The annuities market is poised for unique and exceptional growth in the coming months, buoyed by interest from an unexpected group— young, affluent investors looking to secure stable retirement income, a new study finds.

Feds Sue To Shut Down Tax ‘Elimination’ Scheme Using Charitable Annuity Trusts

March 1, 2022

On Feb. 23, the United States filed a complaint seeking an order prohibiting John Hugo Eickhoff Jr., Rhonda Kaye Eickhoff, Hoffmann Associates LLC, Aric Elliot Schreiner, Columbia CPA Group LLC, John Williams Gray II and Damon Thomas Eisma from organizing, promoting or selling an allegedly unlawful tax scheme involving the use of charitable remainder annuity…

More Retirees Deplete Their Lump Sums, MetLife Study Says

February 25, 2022

NEW YORK, February 23, 2022 – When approaching retirement, employees are faced with a decision that can have lifelong implications:…

American Equity: Q4 Earnings Snapshot

February 21, 2022

_ American Equity Investment Life Holding Co. on Thursday reported fourth-quarter net income of $93.1 million, after reporting a loss in the same period a year earlier. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share. Four analysts surveyed by Zacks expected $506 million.

February 18, 2022
The NAIC executive committee recently approved a new process for long-term care rate review.

NAIC Regulators Look To Tighten Up RILA Product Designs

An NAIC regulator group is refining a draft regulation to better regulate the popular and unique indexed-linked annuities.

RetireOne And Midland National Announce Constance CDA

February 15, 2022

San Francisco, CA – February 15th, 2022 – RetireOne, an independent platform for fee-based insurance solutions, today announced they have…

New Legislation Would Allow Lifetime Income Products As Default Retirement Plan Investment

February 15, 2022

WASHINGTON, D.C. – Bipartisan legislation to eliminate a barrier preventing lifetime income products as default investment choices in retirement plans…

California Man Steals $120K From Brother’s Annuity Policy, Authorities Say

February 14, 2022

Randall Smith, 64, of Oceanside, Calif., was convicted on one felony count of forgery after misusing his power of attorney…

Man Dreaming Of Retirement Spends Gas Money On Lottery Ticket, Wins $1M

February 11, 2022

However, it didn’ t seem feasible until this week, when Shue walked into North Carolina Education Lottery headquarters in Raleigh and claimed a $1 million prize. “He could choose to receive the prize as an annuity of $50,000 over 20 years or a lump sum of $600,000,” lottery officials said in a news release. Shue, who lives in Montgomery County, walked out with a check for…

Lincoln Financial Reports Fourth Quarter, Full Year 2021 Results

February 2, 2022

Lincoln Financial Group today reported net income for the fourth quarter of 2021 of $220 million, or $1.20 per diluted share available to common stockholders, compared to net income in the fourth quarter of 2020 of $143 million, or $0.74 per diluted share available to common stockholders. “In the midst of a challenging claims environment for the industry, we…

Manulife Closes Variable Annuity Reinsurance Deal With Venerable Holdings

February 1, 2022

TORONTO, Feb. 1, 2022/ PRNewswire/- Manulife announced today that its subsidiary, John Hancock Life Insurance Company, has successfully closed the previously announced transaction to reinsure a substantial portion of its legacy U.S. Variable Annuity block, consisting primarily of policies with Guaranteed Minimum Withdrawal Benefits riders, with Corporate…

Principal Financial Announces $1.6B Annuity Reinsurance Transaction

January 31, 2022

Principal Financial Group ® today announced it has entered into an agreement with an affiliate of Sixth Street and its insurance platform, Talcott Resolution, to reinsure the company’ s in-force U.S. retail fixed annuity and universal life insurance with secondary guarantee blocks of business. At its Investor Day in June 2021, Principal announced it would…

January 27, 2022
2021 U.S. single premium buy-out sales were the highest since 2012.

2021 Annuity Sales Highest In 13 Years, LIMRA Reports

Total 2021 annuity sales were $254.8 billion, the highest annual annuity sales since 2008, according to preliminary results from the Secure Retirement Institute U.S. Individual Annuity Sales Survey.

Nationwide Names New Head Of Annuity Distribution

January 25, 2022

Rona Guymon has been selected to lead annuity distribution for Nationwide, the insurer announced in a news release. In this…

Registered Index-Linked Annuities Achieve Record Growth, Cerulli Reports

January 25, 2022

January 25, 2022, BOSTON—Registered index-linked annuities (RILAs), including those that are built on variable and fixed annuity contracts, reached $39 billion…

Athene Announces New Registered Indexed-Linked Annuity

January 25, 2022

Athene USA, a leading provider of retirement savings products, announced the launch of Athene® Amplify 2.0, a registered index-linked annuity…

Two Winners Will Split A $25 Million Colorado Lotto+ Jackpot

January 25, 2022

The $25 million prize is the second-highest Colorado Lotto+ jackpot; a $27 million jackpot was won in 1992 by a single player. The jackpot winning tickets were sold at a Safeway fuel center, 626 Colorado 105 in Monument, and through the Winners Circle in Pueblo, a Jackpocket mobile app. If one or both winners take the lump-sum option, rather than a 25- year annuity, the…

AIG Life & Retirement Launches New Variable Annuity

January 24, 2022

AIG Life & Retirement, a leading provider of annuities, today announced the launch of Advanced Outcomes AnnuitySM. This new annuity…

TIAA Offers Lifetime Income For Corporate Retirement Market

January 21, 2022

TIAA for the first time is offering its guaranteed lifetime income solutions to the corporate retirement market through the TIAA…

TIAA Offering Lifetime Income Solutions For The Corporate Retirement Market

January 20, 2022

NEW YORK, January 20, 2022 – TIAA for the first time is offering its guaranteed lifetime income solutions to the…

North Carolina Restaurant Owner Wins $2M With $20 Scratch-Off Ticket

January 20, 2022

A North Carolina man’ s $20 scratch-off lottery ticket led him to a hefty $2 million win. Luigi Dimeo, from High Point, said that when he saw the first digit on the ticket, he assumed he had won $20, according to a news release from the North Carolina Education Lottery. He could take a $1.2 million lump sum, or he could take it as an annuity of $100,000 per year for the next 20…

7 Annuity Mistakes Advisors And Clients Make

January 19, 2022

A while back I did a multi-part series on annuities. The complexity of annuities necessitated multiple articles just to cover a good portion of what you need to know. In the articles, I left out some of the more complex mistakes people make regarding them.

Author: 2022 Is The Year Consumers Discover Value Of Annuities

January 11, 2022

Helping Consumers Understand Annuity Products. Consumers will find out the value annuities have to create lifetime, protected income.. "–Harry N. Stout VERO BEACH, FLORIDA, UNITED STATES, January 11, 2022/ EINPresswire.com/– Harry N. Stout, author and podcast host at the FinancialVerse says that 2022 will be the year that consumers proactively reach out for…

Allianz Completes Reinsurance Deal For $35B FIA Portfolio

January 7, 2022

Allianz completes reinsurance transaction for $35- bn U.S. fixed index annuity portfolio. Agreement with Resolution Life and affiliates of Sixth Street was announced on December 3 Transaction unlocks $4.1 bn in value and frees up regulatory capital for Allianz Munich, January 07, 2022. The transaction, announced on December 3, unlocks $4.1 billion in value…

Midwest Holding Launches S&P 500 ESG Index For Fixed Annuity Space

January 6, 2022

–Midwest Holding Inc., a technology-driven, life and annuity platform, today announced that its subsidiary American Life& Security Corp has launched the industry's first ever Fixed Annuities based on the S&P 500 ESG Index. said Midwest Holding Chief Executive Officer Georgette C. Nicholas. About Midwest Holding Inc. Midwest Holding Inc. is a technology…

Investors Heritage Brings FIA With ESG Index To California, Delaware

January 5, 2022

Investors Heritage Life Insurance Company announced today that it would now be offering its first fixed indexed annuity in California and Delaware. “We built our HIA to help people manage the volatility and uncertainty in retirement planning today,” said John Frye, President of Investors Heritage.“ Our initial launch was targeted to ensure a high-quality…

Monument Re Acquires Variable Annuity Portfolio From Athora Ireland plc

January 4, 2022

Monument Re announced today that its Irish subsidiary Monument Life Insurance DAC has completed the acquisition of a closed-block portfolio of variable annuities from Athora Ireland plc, a wholly-owned subsidiary of Athora Holding Ltd. The portfolio has been in run-off since 2017. Monument Re Limited is a life Reinsurance and Insurance Holding Company…

ACLI: Pennsylvania Passes Annuity Sales Rules

December 27, 2021

Legislation signed recently by Pennsylvania Governor Tom Wolf enhances protections for consumers seeking lifetime income from annuities. Pennsylvania is the 19th state to adopt a measure that implements the "best interest of consumer enhancements" in the National Association of Insurance Commissioners Suitability in Annuity Transactions Model…

‘Serial Defrauder’ Gets Prison In Insurance-Annuity Swindle

December 27, 2021

A former Tucson insurance agent is headed to federal prison for more than four years for stealing a total of more than $1 million from her elderly clients. Koreasa "Kory" Williams was sentence to 51 months behind bars and three years of supervised as part of a plea deal in U.S. District Court in Tucson, the Justice Department announced in a news release.

New Hampshire Man Claims $1.825M Tri-State Megabucks Jackpot

December 22, 2021

CONCORD, N.H.– Barrington resident Richard Baker has claimed the $1.825 million Tri-State Megabucks jackpot prize that he won on December 8, 2021. Baker purchased the winning ticket at Circle K in Northwood and opted to take the one-time cash payout of $1.32 million instead of taking graduated annuity payments over 30 years. Tri-State Megabucks has been a…

Integrity Surprises Employees With $125M Payout And Equity Stake

December 21, 2021

On the heels of a $1.2 billion minority equity investment and just in time for the holidays, Integrity Marketing Group,…

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