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Survey: Americans want even more guaranteed income in retirement

September 9, 2022

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…

NC man wins $2 million off $20 scratch-off

September 7, 2022

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.

August 31, 2022
Annuity guidelines under review.

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.

MYGA sales power 2Q, Wink reports, overcoming variable sales decline

August 31, 2022

Sales were powered by an 80% increase in multi-year guaranteed annuities, while variable product sales were down again.

Lincoln Financial launches Stadion’s StoryLine Dynamic QDIA

August 26, 2022

RADNOR, Pa. (BUSINESS WIRE) – Lincoln Financial Group  today announced the launch of Stadion’s StoryLine Dynamic, a Qualified Default Investment…

What happens if no one claims the Mega Millions jackpot?

August 26, 2022

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.

Layin' It on the Line: One huge benefit for annuity owners

August 23, 2022

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?

August 23, 2022
Annuity sales were strong in the second quarter.
Fixed-rate deferred annuity sales led the way in 2Q.

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.

LibertyMark Freedom annuities now offer a 7% upfront premium bonus

August 23, 2022

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…

SEC obtains final judgment for ex-broker found liable in annuity fraud case

August 22, 2022

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 announces $10B group annuity reinsurance deal with Equitable

August 16, 2022

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…

Colorado adopts new annuity sales regulations

August 15, 2022

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 introduces new fixed indexed annuity, NWL New Frontiers

August 10, 2022

–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 National announces second quarter 2022 results

August 9, 2022

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 adds to Shield Level annuity suite with new product

August 9, 2022

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 FlexGuard reaches $10B total sales milestone at record pace

August 4, 2022

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…

Retirees can rely on annuities as a source of guaranteed income for life

August 3, 2022

–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

August 3, 2022

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.

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