The survey, fielded by Qualtrics, found fears about a potential recession and uncertainty over the financial strength of Social Security are respondents' top two financial concerns right now, with almost three-fourths saying they are worried about the impact of each on their retirement. "Retirees with enough guaranteed income to pay their fixed expenses can…
Annuity News
GASTONIA, N.C.– Joice Hardin Jr. of Gastonia bought a $20 scratch-off and won a $2 million prize, according to an NC Education Lottery news release. Hardin bought his winning Grand Money ticket from Times Turnaround on South New Hope Road in Gastonia. He could choose to receive the prize as an annuity of $100,000 over 20 years or a lump sum of $1.2 million.
Regulators debate new indexed-linked annuity rules for nonforfeiture
While classified as variable annuities, indexed-linked products do not fit into Model 250, which includes the nonforfeiture rules that determine how much money a contract holder can get back if they give up the annuity.
Sales were powered by an 80% increase in multi-year guaranteed annuities, while variable product sales were down again.
RADNOR, Pa. (BUSINESS WIRE) – Lincoln Financial Group today announced the launch of Stadion’s StoryLine Dynamic, a Qualified Default Investment…
WASHINGTON— It's been nearly four weeks since the Mega Millions $1.337 billion prize found its match in a single Illinois ticket, but no one has come forward to claim the life-changing jackpot. In Illinois, the lottery allows up to a year for the new billionaire to come forward, but places a 60- day deadline to choose the lump sum or annuity payments.
Many benefits annuities provide are included at no additional cost or expense. Almost all new annuity contracts provide an immediate benefit. Is it freedom from market risk?
LIMRA: Fixed-rate deferred annuity sales lead to record-breaking 2Q
Fixed-rate deferred (FRD) and registered index-linked (RILA) sales reached an all-time record for the quarter, while fixed index annuity sales fell just short of a record quarter.
Legacy Marketing Group ® today announced the release of a 7%* upfront premium bonus product on its newest fixed indexed annuity series, LibertyMark Freedom. Issued by“ A” rated** Americo Financial Life and Annuity Insurance Company, the new LibertyMark Freedom 10 Plus and 10 LT Plus annuities jump-start a client’ s premium at contract issue with a 7% premium bonus…
The Securities and Exchange Commission issued the following litigation release involving Jonathan Dax Cooke, et al.:. The U.S. District Court for the Northern District of Georgia today entered a final consent judgment against Jonathan Dax Cooke, a former broker accused of fraudulently persuading hundreds of current and former federal employees to…
Global Atlantic Financial Group, a leading financial services company, today announced it has signed an agreement with Equitable Financial Life Insurance Company to reinsure a portion of its group retirement annuities. Under the terms of the agreement, Equitable Financial Life Insurance Company, a subsidiary of Equitable Holdings, Inc., will transfer…
FALLS CHURCH, Virginia, Aug. 5– The National Association of Insurance and Financial Advisors posted the following statement:. ACLI President and CEO Susan Neely and NAIFA-CO Political Action Committee Chair and Government Relations Committee member Brent Jones issued the following joint statement on the best interest annuity rule adopted recently by the…
–National Western Life Insurance Company announced the launch of NWL ® New Frontiers, an innovative addition to the Company's product suite. NWL ® New Frontiers will be available exclusively through The Sterling Group, who assisted in the design of the product. "The launch of the NWL ® New Frontiers annuity is exciting for all involved," said Chad J. Tope,…
Jackson Financial Inc. today announced financial results for the three months ended June 30, 2022. Net income of $2,903 million, or $32.56 per diluted share, including the impact of non-economic hedging results under GAAP accounting Adjusted operating earnings 1 of $225 million, or $2.52 per diluted share Total annuity account value of $208 billion…
Brighthouse Financial, Inc. announced today the expansion of its flagship Brighthouse Shield ® Level Annuities suite with the launch of Brighthouse Shield Level Pay Plus SM Annuities, which are designed to help strengthen clients’ retirement portfolios by providing a stream of guaranteed lifetime income. 1,2 Shield Level Pay Plus annuities also offer…
Prudential Financial, Inc. announced that its FlexGuard product has reached a $10 billion total sales milestone since its launch in 2020, making it the fastest-growing indexed variable annuity in the industry, according to data from the Secure Retirement Institute. 1. “The success of FlexGuard is a testament to Prudential’ s continued focus on our customers…
–With industry surveys showing that most retirees' #1 fear is running out of money, 1 Insurance Agency Marketing Services, Inc. is pleased to highlight Annuity Awareness Month and the importance of annuities as a vehicle for secure retirement income. On Monday, July 11, IAMS' Executive Vice President and General Counsel Chris Conroy joined Nebraska Governor…
Lottery ticket bought in Illinois wins $1.337 billion. CHICAGO A single ticket bought in a Chicago suburb beat the odds and won a $1.337 billion Mega Millions jackpot. The $1.337 billion prize is for winners who choose the annuity option, paid annually over 29 years.
