Security Benefit Life Insurance Company today announced the removal of all surrender charges on its commission-free ClearLine fixed index annuity product. “Security Benefit has taken a holistic approach to the RIA market since entering the space in 2011,” said Mike Reidy, VP, Head of RIA Sales for Security Benefit.“ We initially launched the commission-free…
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Global Atlantic Financial Group, a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, recently announced its transition to the exclusive use of electronic applications for all multi-year guaranteed fixed-rate annuity sales. About Global Atlantic Global Atlantic Financial Group is a leading…
Brad Rhodes: The safety of annuity products. Published 12:00 am Sunday, July 9, 2023. When it comes to planning for a secure financial future, annuity products can play a significant role.
‘Annuity King’ partner claims bipolar disorder in presentence report
Kenneth Rossman, the accountant sidekick in a $6.3 million fraud led by self-styled “Annuity King” Philip Roy Wasserman, cited bipolar disorder in arguing for a lighter sentence.
‘Business as usual’ if Brookfield Reinsurance acquires American Equity
Brookfield Reinsurance unveiled details this morning of its offer to acquire partner American Equity, a major seller of fixed annuities.
California’s annuity sales update on track after trade groups sign off
An annuity sales bill updating California’s suitability standard is expected to be presented Wednesday to the state Assembly Committee on Insurance.
GREENVILLE, N.C.– Powerball and Mega Millions players have two chances to win big this weekend playing for jackpots that total $747 million combined. Saturday's Powerball jackpot stands at a $427 million annuity worth $221.1 million in cash. In Wednesday's Powerball drawing, two tickets matched four white balls and the red Powerball to win $50,000.
Lincoln ordered to mediate FIA illustration lawsuit filed by former agent
A Texas judge ordered Lincoln Financial and nine plaintiffs suing over fixed indexed annuity performance to agree on a mediator.
The enhancements include a new index which draws on decades of academic research to pursue higher expected returns.
Lincoln Financial in settlement talks with ex-agent who sued over FIA returns
Lincoln Financial is in settlement talks with nine plaintiffs — including an ex-Lincoln agent — who allege that the insurer misrepresented the potential returns of its fixed indexed annuity.
Annuity sales on steady ‘positive trajectory’ through 2027, LIMRA predicts
The record-smashing tier of annuity sales will not be going away anytime soon, LIMRA analysts predict.
Venerable Holdings, Inc. (Venerable), today announced an agreement for its wholly-owned subsidiary Venerable Insurance and Annuity Company (VIAC), to recapture…
Global Atlantic Financial Group, a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced it has signed a $19.2 billion reinsurance agreement with MetLife, Inc.. Global Atlantic general account assets under management supporting the transaction will be approximately $13 billion at…
Prudential Financial, Inc. announced today an agreement to reinsure a portion of its traditional variable annuity block with an affiliate of Constellation Insurance Holdings, Inc., for proceeds at closing resulting in approximately $650 million. 1. Under the terms of the agreement, Constellation’ s affiliate will reinsure approximately $10 billion of…
Income tops annuity buyers’ reasons for purchase, study says
Annuity buyers wanted access to their funds and ways to withdraw more than they cited interest rates or low fees, according to a buyer study conducted by LIMRA.
Annuity sellers jockey for position in a record-breaking 1Q, LIMRA reports
Several insurers recorded big sales in a first quarter that saw total fixed annuity sales increase 101% to $70.9 billion compared with prior-year results.
–National Western Life Insurance Company announced the launch of NWL ® Capital Solutions, a 10- year FIA that includes an optional Guaranteed Minimum Death Benefit Rider, exclusive access to the J.P. "NWL ® Capital Solutions 10- year FIA provides advisors with a compelling FIA accumulation design with unique index options including the Dow Jones…
Allianz Life introduced significant enhancements to its Allianz Index Advantage suite of Registered Index Linked Annuities.
Q1 annuity sales the highest on record, LIMRA says
Following record-high sales in 2022, total first quarter annuity sales were $92.9 billion, a 47% increase from the prior year.
‘Annuity King’ bid for a mistrial is denied as trial moves on to week 5
The trial of the self-styled “Annuity King” will continue into a fifth week after a Florida judge denied defendant Phillip Roy Wasserman’s motion for a mistrial.
