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Since 2011, accumulation-focused annuity product sales have experienced steady growth, which LIMRA SRI researchers predict will continue over the next five years. As a result of low interest rates, income-focused annuity sales had been declining since 2015 until interest rates increased in 2018.

Securian Financial has entered the $41.5 billion bank distribution channel for individual annuities with customized products and a new sales team. Securian will offer its complete portfolio of individual annuities to banks, the company said in a news release, and is also developing specific products for the channel.

American International Group, Inc. announced that Avery Dennison Corporation, a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials, has signed an agreement transferring approximately $750 million of pension obligations to American General Life Insurance Company, part of…

Prudential Retirement ®, a unit of Prudential Financial, Inc., has concluded about $2.6 billion in previously undisclosed longevity reinsurance contracts, an important signal of an unprecedented start to the 2019 U.K. pension risk transfer market. The funding level of the average U.K. pension scheme stood at 100.1% on March 29, 1 putting many in a favorable…

MADISON, W is.- A 24- year-old Wisconsin man stepped forward Tuesday to claim a $768 million Powerball prize, the nation’s third-largest lottery jackpot, saying he “pretty much felt lucky” the day he bought his tickets and has been worried that people want to steal his ticket. Manuel Franco, of West Allis, said he was sorting through $10 worth of quick-pick tickets…

The simulations have been run and the numbers have been crunched: annuities help improve retirement outcomes compared to investments alone. This is according to new research commissioned by Principal Financial Group ® and conducted by Michael Finke, Ph.D., CFP ®, and Wade Pfau, Ph.D., CFP ®. “Workers show strong interest in guaranteed income 1, but one-third of…

Massachusetts Mutual Life Insurance, a life insurance company, issued the following news release:. As the growth of its pension risk transfer business accelerates, Massachusetts Mutual Life Insurance Company has enhanced its website to serve PRT annuitants, improving navigation, providing more self-service features and information, and offering mobile…

The Great American Insurance Group, a property and casualty insurance company, issued the following news release:. These new products offer indexed strategies linked to well-known indexes and ETFs, including the S&P 500 (R), iShares U.S. Real Estate ETF, and iShares MSCI EAFE ETF, providing upside potential in diverse markets with complete protection against…

If you are planning to retire sometime in the next several years, then you should stress test your plans— living arrangements, retirement portfolio and income and anticipated leisure pursuits— because retirement is like your first days in kindergarten, full of surprises. In our 40 s and 50 s, as the pressures of college tuition, aging parents perhaps approaching…

Saving for future goals is not easy. Hopefully, I can help explain the differences between two commonly used tools: certificates of deposit and Deferred Annuities. CDs are issued by commercial banks or credit unions and are guaranteed by the Federal Deposit Insurance Corp. or National Credit Union Administration.

More than half of Americans say they’ d earn a“ C” or lower when it comes to financial literacy, according to a new survey conducted by Harris Poll on behalf of Prudential Financial, Inc.. “Our industry needs to drive home the importance of financial education, and lead the way in providing it, to help clear a path toward financial wellness,” said Caroline Feeney, head of…

Judge Denise J. Casper ruled that an addendum to the Ohio National selling agreement commits them to arbitration with Commonwealth Equity Services. The broker-dealer is challenging Ohio National’s decision to end trail commissions on a specific variable annuity.

NEWPORT BEACH, Calif. and NEW YORK, April 9, 2019/ PRNewswire/– Pacific Life and InsurTech firm Blueprint Income, today announced a collaboration to modernize the purchase of annuities. “We’ve heard a clear desire— especially among Generation X— to have the security of a pension that their parents relied on to achieve financial peace of mind,” said Blueprint Income…

Overall annuity sales rose 9.7 percent in 2018, with the combined sales of fixed and variable annuities reaching $218 billion, according to the Insured Retirement Institute (IRI), citing final 2018 market data for the U.S. annuity industry from Beacon Research and Morningstar.

While the Department of Labor fiduciary rule is gone, tossed out by a federal appeals court one year ago, the compliance spotlight it shone on commission annuity sales remains. If the industry doesn’t figure out how to effectively provide distribution of annuities via advisory channels, “sales are just going to fall off a cliff,” one executive says.

To help clients navigate the sometimes-confusing required minimum distribution process while also enhancing their financial legacy, Allianz Life Insurance Company of North America today announced the launch of its Legacy by Designâ„  fixed index annuity solution. Legacy by Design is a combination of two FIAs that work together to systematically and…