The self-described “Annuity King” escalated his battle with federal authorities with a lawsuit alleging “rogue, out-of-control, above-the-law” conduct by agents who investigated him.
Read moreMINNEAPOLIS – Oct. 11, 2021 – Plan sponsors overwhelmingly see the value of guaranteed lifetime income options according to new…
Jackson National Life Insurance Company ®, the main operating subsidiary of Jackson Financial Inc., today announced the launch of Jackson Market Link Pro SM and Jackson Market Link Pro Advisory SM, two new registered index-linked annuities. JMLP and JMLPA offer consumers the opportunity to grow assets before and during retirement while offering…
BROOKFIELD, NEWS, Oct. 11, 2021– Brookfield Asset Management Reinsurance Partners Ltd. today announced the closing of its previously-announced transaction to reinsure up to $10 billion of annuity products issued by American Equity Investment Life Insurance Company, a subsidiary of American Equity Investment Life Holding Company. Under the agreement,…
RIVERWOODS, Ill., (GLOBE NEWSWIRE) — Federal Life Insurance Company an Illinois-domestic carrier with a history dating back to 1899, today…
JACKSON, Miss. The Powerball group raised the previous $670 million jackpot for Monday's drawing to $685 million due to increased play. Powerball jackpot winners may choose to receive their prize as an annuity, paid in 30 graduated payments over 29 years, or a lump sum payment. Tuesday night's Mega Millions jackpot has grown to an estimated $45 million, and the…
RetireOne ® and Midland National Life Insurance Company proudly announce the launch of a new, zero-commission contingent deferred annuity called Constance. In doing so, Constance allows Registered Investment Advisors flexibility to wrap client brokerage accounts, Individual Retirement Accounts, or Roth IRAs with this lifetime income protection.
Prudential is creating Prudential Retirement Strategies, a new U.S. business that combines annuities and retirement investment products to serve the retirement needs of both individual and institutional customers.
Total second quarter sales for all deferred annuities were $64.4 billion, up more than 10% compared to the previous quarter and an increase of 40.4% when compared to the second quarter 2020.
When asked if they would prefer an annuity that pays 6% guaranteed income for life, while retaining cash value (until depleted by withdrawals) or a bond portfolio yielding 1.5%, the vast majority of respondents said they would take the annuity.
In the first half of 2021, total annuity sales increased 23% from prior year to $129.2 billion.
Talcott Resolution Life Insurance Company today announced the execution of a flow reinsurance transaction with Lincoln National Corporation’s insurance subsidiary, The Lincoln National Life Insurance Company.
The non-qualified variable annuity market is growing while the qualified market shrinks. An Insured Retirement Institute panel discussed the state of VAs and whether advisors are selling them.
U.S. single premium buy-out sales totaled $5 billion in the second quarter, up 119% from second quarter 2020, according to the Secure Retirement Institute.
Prudential Financial Inc. agreed to sell a portion of its in-force legacy variable annuity block to Fortitude Group Holdings for a total transaction value of .2 billion. As per the terms of the deal, Prudential will sell one of its stand-alone legal entity subsidiaries, Prudential Annuities Life Assurance Corporation, including PALAC's in-force annuity…
Jackson is now an independent company, and its stock is expected to commence “regular way” trading under the ticker symbol “JXN” on the New York Stock Exchange on Sept. 20.
Recordkeepers and advisors using iJoin will be able to offer the Allianz Lifetime Income+ Annuity with the Lifetime Income Benefit as a protected accumulation and decumulation option in 401(k)s and other defined contribution plans.
SmartRetirement Plus will be delivered through an intuitive digital experience that provides participants with information on how to convert retirement plan savings into retirement income.
American International Group today announced that Peter Zaffino, president and CEO, will assume the additional role of chairman of the Board of Directors, effective Jan. 1, 2022.
Former NFL player Mitch Lyons works with insurance companies that provide either fixed-income annuities or fixed-index life products to his clients.
Column provided by Edward Jones on behalf of financial advisor Shelley York. If you're getting close to retirement, you're probably thinking about the ways your life will soon be changing. Many people don't– in fact, 61% of retirees wish they had done better at planning for the financial aspects of their retirement, according to an Edward Jones/ Age Wave study…
If you're getting close to retirement, you're probably thinking about the ways your life will soon be changing. Many people don't in fact, 61% of retirees wish they had done better at planning for the financial aspects of their retirement, according to an Edward Jones/ Age Wave study titled Retirement in the Time of Coronavirus: What a Difference a Year Makes.
American Equity Investment Life Holding Company ® announced today that Axel André will join the company as its new Chief Financial Officer in September. I believe he brings the right combination of intellect, curiosity and proven leadership experiences, to serve as our next CFO as AEL transforms itself into a unique company at the intersection of the…
The 61- year-old recently won an 18.41 million Lotto 47 jackpot with numbers he's been playing for three decades, according to the Michigan Lottery. “I have been playing this set of numbers since 1991 and have rarely missed a drawing,” he told the Michigan Lottery. More: Michigan Lottery player wins $25,000 a year for life.
HARRISBURG- Legislation sponsored by State Sen. “The teacher shortage is a serious and well-known crisis throughout the state,” said Sen. Fowler. “We have to do everything we can to make sure that the state's ongoing teacher shortage doesn't negatively impact our children's ability to learn,” Sen. Fowler said. “
“The late' 50 s to early' 60 s is the perfect time to increase your savings, build out your stake in safe money products, and re-evaluate your portfolio.” Many investors, especially those within ten years of retirement, look for guidance as they near the spend-down stages of their lives. Conventional financial advisors tend to focus on wealth accumulation rather than…
Larry Hood of Fort Mill, S.C. found himself the latest winner of a $1 million Millionaire Maker prize. Hood purchased his winning $30 ticket from the B& M Food Service on Lancaster Highway in Pineville. Hood had the option of taking the $1 million as an annuity of $50,000 a year over 20 years, or a lump sum of $600,000.
Total debt outstanding decreased by approximately $8 billion to $91.4 billion at year-end 2020.. Given the current interest rate environment and some uncertain views of the U.S. economy, many of the larger companies continue to de-leverage. With uncertainty surrounding COVID-19 pandemic, many insurers turned to the Federal Home Loan Bank to tap into funds…
Allianz Life Insurance Company of North America announced today that it has teamed up with Morningstar Investment Management LLC to help individuals allocate their retirement savings to its annuity products through the Morningstar Retirement Manager service. Morningstar Retirement Manager is a managed accounts and advice service that helps…
AIG Life& Retirement, a division of American International Group, Inc., today announced that Bryan Pinsky has been named President, Individual Retirement and Tim Heslin has been named President, US Life Insurance. “Bryan and Tim are exceptional leaders and innovators, and their strategic insight and product expertise will drive our businesses to continue to…
Jackson National Life Insurance Company ® today announced the launch of Jackson Retirement Investment Annuity SM, a fee-based variable annuity designed for independent registered investment advisors to specifically address their annuity concerns. “Through our research and direct feedback from the growing population of independent RIAs, we have…
SAND CREEK– What would you do if you bought a scratch-off lottery ticket and saw you had won $1 million? Arnold Kleindienst bought his winning Millionaire Wild Time ticket at Country Market, 1535 W. Maumee St. in Adrian, where he works. When I saw I'd won $1 million, I was so excited and overwhelmed. “
Principal acquired the Institutional Retirement and Trust business in July 2019 to enhance its retirement and income capabilities, achieve greater scale and balance, and drive business growth, the company said in a news release.
Brookfield Asset Management Reinsurance Partners is acquiring American National Group in a $5.1 billion deal announced this morning.
“The New Hampshire Insurance Department recently became aware of at least one insurer in New Hampshire that had failed to appoint the producers that were selling their products,” said Commissioner Nicolopoulos. New Hampshire statutes provide penalties up to $2,500 per violation for insurers and producers who sell insurance through a producer without an…
New AIG CEO Peter Zaffino fleshes out details of the company’s spin-off of its life and retirement business, which it plans to sell in an initial public offering in the first quarter of 2022, with Blackstone being a minority owner.
–Athene Holding Ltd., a leading financial services company specializing in retirement solutions, announced the close of a significant pension risk transfer transaction with Lockheed Martin, a global security and aerospace leader. Athene’s wholly-owned subsidiaries, Athene Annuity and Life Company and Athene Annuity& Life Assurance Company of New York,…
As a young person I was raised on game shows. They were a staple of daytime viewing for our family. With the dot-com bubble of 2000, the events of Sept. 11 in 2001, the financial crisis of 2008, and the COVID-19 panic of 2020, we have seen our fair share of volatility in the market over the past couple decades.
Researchers at the Secured Retirement Institute expected strong registered index-linked annuity numbers but were blown away by the double-digit increase across the board.
Strong equity market gains and lower volatility, as well as rising interest rates all contributed to the remarkable rebound in the annuity market, officials said.
The annuity focused Alliance for Lifetime Income has again signed on as the sole sponsor of The Rolling Stones’ 2021 “No Filter” U.S. stadium tour.
Allianz Life Insurance Company of North America (Allianz Life) announced today that it is entering the defined contribution market with the launch of its Allianz Lifetime Income+ Annuity.
For the millions of Americans looking to supplement their retirement with a guaranteed lifelong income stream and ensure a legacy path for beneficiaries, American Equity Investment Life Insurance Company ® launches a new fixed index annuity— the EstateShield. This is a 10- year retirement product designed to help clients meet life’ s financial changes…
According to court documents, Kenneth Murry Rossman pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud, and one count of “aiding and assisting the preparation and filing of fraud and false tax returns.”
A key state insurance regulator group adopted a list of FAQs today in an effort to persuade more states to adopt new annuity sales rules.
Karen Urtecho Sandrez of Charlotte was gifted a present she won't soon forget- a scratch-off ticket with a $2 million prize. The friend purchased the $20 ticket from Lucia Food Mart on Killian Road in Stanley. “I could not believe it, honestly,” she recalled of scratching her ticket and seeing her $2 million prize.
A New York Man “had to pinch” himself when he won $4 million from a scratch-off Michigan Lottery ticket, the state's lottery announced Thursday. He chose to receive the prize as a one-time lump sum of about $2.5 million instead of annuity payments totaling $4 million, according to the Michigan Lottery. The $30 ticket offers players the chance to win prizes ranging…
DAVIE COUNTY, N.C.– Part of his $1 million Extreme Cash prize will help Pharris Frank, of Advance, and his fiancé pay for their wedding, according to an NC Education Lottery news release. Frank, a carpenter, bought his winning $25 ticket from Rivertrail Mercantile on U.S. 64 East in Advance. He claimed his prize Thursday and had the choice of taking his prize as an…
Here are three misunderstandings that can often develop surrounding income annuities, as well as insights that can help employers leverage these benefits to promote long-term financial wellness in a post-pandemic world.
Wednesday’s blockbuster AIG-Blackstone deal is likely to power up both companies in their respective worlds of insurance and private equity, according to a leading industry analyst.
American International Group is selling a 9.9% equity stake in AIG’s Life & Retirement business to Blackstone for $2.2 billion in an all-cash transaction.
I recently reconnected with Dave, a former colleague who lost his job as the economy was reopening from the pandemic. He's a few years younger than I am but doesn't think he can get another job that he'd enjoy in his field, nor does he want to have to commute and return to an office setting full-time. Dave has been successful financially and thinks he can retire now, but…
BUNCOMBE COUNTY, N.C.– Teamwork led Foy Buckner Jr. and Robert Roberts to a $2 million lottery win, according to an NC Education Lottery news release. Buckner, of Barnardsville, and Roberts, of Weaverville, bought their winning ticket from the Triangle Stop Food Store on Chimney Rock Road in Hendersonville. 'Charities, friends, family'; Winston-Salem man celebrates $2…
–Athene Holding Ltd., a leading retirement services company, today announced that it, along with its strategic partner, Apollo Global Management, have agreed to acquire a 15% minority interest in Challenger Limited from an existing shareholder, 3% of which is subject to customary Australian Prudential Regulation Authority approval. Challenger is the…
Start the conversation by looking to understand what your clients’ goals and objectives are, along with their risk tolerance, and concerns about outliving their income.
Five people have claimed the massive winning $516 million Mega Millions ticket sold in Middletown Township's Levittown section last month. Pennsylvania Lottery officials confirmed the news in a statement Friday afternoon. The five claimed the huge jackpot the 18th largest in American history and third largest Mega Millions prize ever in Pennsylvania…
Virginia and Alabama became the latest pair of states to adopt updated annuity sales rules based on a National Association of Insurance Commissioners’ model regulation.
American International Group, Inc. today released its first Environmental, Social and Governance (ESG) Report detailing the company’s strategic progress.
–Retirement Services President Sandy McCarthy announced the hire of Mike Domingos who joins OneAmerica ® in a critical new leadership role designed to accelerate the company’s latest phase of growth and amplify its commitment to the retirement business. As head of distribution, Domingos will lead the Retirement Services sales, business development and…
Principal Financial Group will stop selling U.S. retail fixed annuities and consumer life insurance products and pursue sales of blocks of those assets already in force, Bloomberg reported Monday afternoon. The company will continue selling variable annuities.
