Trump Administration Releases Rules on Association Health Plans

Financial advisors need a new approach with which to engage clients about annuities, and a coalition of 24 insurers and asset managers has banded together to help.

The SEC’s proposed best-interest rule for brokers strikes the right balance, Chairman Jay Clayton testified before a House committee Thursday. The agency is accepting public comment on the rule until Aug. 7.

A federal appeals court finally issues a final mandate officially killing the Department of Labor fiduciary rule after a long delay. The action leaves the SEC Regulation Best Interest as the main rule proposal to regulate financial advice.

Total new premium for life combination products (which combine life insurance with long-term care or chronic illness coverage) increased 18 percent to $4.1 billion in 2017, according to LIMRA’s 2017 Individual Life Combination Products Annual Review. This is the third consecutive year of premium growth.

The indexed-linked annuity market has been growing strong in recent quarters, and for AXA, that is both good and bad news. Good because the company is the leader in the market, but bad because other companies are jumping in the fray.

A judge within the Fifth Circuit Court of Appeals is likely pushing for a full judicial review of the March 15 decision to toss the DOL fiduciary rule, one lawyer says. The court continues to delay issuing a final order that would officially kill the DOL rule.

The Trump administration finalized plans to let small companies and the self-employed band together and buy health insurance outside of the Affordable Care Act’s strict rules, moving to offer coverage to people priced out of the market by the 2010 health care law.

A new survey yields revealing thoughts from 300 advisors, RIAs and broker-dealers on financial market challenges and managing client portfolios in a risk-laden market environment.

Even though Congressional Republican leadership said it has moved on from repealing the Affordable Care Act, a coalition of conservative groups compiled their own plan to repeal the health care law.

From drivers paying more for gas and families bearing heavier child care costs to workers still awaiting decent pay raises and couples struggling to afford a home, people throughout the economy are straining to succeed despite the economy’s gains.

Insurance companies are adding illness and long-term care features into indexed universal life products. The new features are expected to boost an already-booming business.

Now that the Department of Labor’s fiduciary rule is all but dead, insurance companies now see the Securities and Exchange Commission building a regulation that might affect selling. The anxiety might be dampening what should be an ideal sales environment.

The Securities and Exchange Commission’s Regulation Best Interest is drawing heated opposition from an interesting coalition of allies. But Chairman Jay Clayton insists that the agency will not be deterred in its rulemaking efforts.

U.S. market returns have outpaced foreign equities since the 2007-08 economic recession. But that is changing, analysts say, with foreign market performance indices edging ahead in recent months. Many analysts expect that trend to continue.

In a case with billions of dollars at stake, a federal appeals court ruled that the federal government doesn’t have to pay health insurers money they say they are owed under the Affordable Care Act.

The federal government will not appeal a court ruling tossing the Department of Labor fiduciary rule. The Trump administration had until the end of Wednesday to appeal the decision to the Supreme Court.

Asian stocks have slumped after the U.S. Federal Reserve raised its key interest rate and said it would pick up the pace of future increases. South Korea’s market benchmark tumbled 1.6 percent on the first trading day since the meeting of U.S. and North Korean leaders. Markets in Tokyo, Shanghai and Hong Kong all declined.

The Federal Reserve hiked interest rates today as expected. The news is great for insurers who receive several different benefits from higher interest rates, industry experts say.

Underneath the seemingly calm surface of annuity sales, insurers are working to generate propulsion with new features and fees.

Millennials and GenXers are going to comprise a much larger piece of the client pie by 2023, according to a new survey. On the flip side, baby boomers and older clients will decline in numbers. Advisors need to learn strategies to appeal to the trending youth, experts say.

A survey shows consumers are becoming more comfortable with risk but at the same time terrified of an economic cataclysm devastating their savings. Could an annuity help soothe those anxious consumers?

Americans can retire abroad for a fraction of the costs needed in the U.S., and many are doing just that. Advisors have an opportunity to be the indispensable partner while helping clients through the retire-abroad process.

The Committee on Foreign Investment in the United States (CFIUS) has completed its review of the proposed takeover of Genworth by a Chinese financial holding group and concluded that there are no unresolved national security concerns with respect to the proposed transaction. This satisfies one of the conditions to the closing of the proposed transaction.

Many global dividend payouts are at an all-time high as the world economy chugs along. So why aren’t more investors on the hunt for dividend-paying stocks?

Variable universal life used to be a hot product line but their sales dipped around 2000 and had not recovered since. But lately they are showing some signs of life.

A National Association of Insurance Commissioners’ working group is considering model law changes to permit indexed annuity illustrations using indexes in existence less than 10 years. Critics have mixed views on the possible changes.

The Trump administration said in a court filing that it will no longer defend key parts of the Affordable Care Act, including the requirement that people have health insurance and provisions that guarantee access to health insurance regardless of any medical conditions.

Current pricing in federal funds futures markets suggests a 95 percent chance of a rate hike when the Fed committee meets Tuesday and Wednesday. Rising inflation and still-low interest rates are reasons another hike is likely.

Democrats left little doubt that heath care will be their signature issue in the mid-term contests, betting the GOP’s decision to weaken the Affordable Care Act as part of its tax overhaul will give them a winning platform to run on while vulnerable senators are tethered to Capitol Hill this August.

The Fifth Circuit Court of Appeals hasn’t yet issued a final mandate officially killing the Department of Labor fiduciary rule. The ACLI asked the court today to issue the mandate as soon as possible.

Single retirees who work with an advisor are more confident in their retirement security than those who do not. This represents an opportunity for advisors.

A National Association of Insurance Commissioners’ working group bridged some tough gaps, but punted others, during a two-day meeting to craft an annuity sales transactions standard.

Six states — Iowa, Massachusetts, Minnesota, Missouri, New Jersey and Washington state — have active legislation to establish a Medicaid buy-in program. In four others, bills were proposed but stalled.

Surveys indicate that between 40 and 60 percent of Americans list running out of retirement funds as their No. 1 fear. So what can an advisor for to help clients deal with that fear, and make sure it doesn’t come true?

Universal life sales fell 19 percent in the first quarter compared to the first quarter of last year. Not even white-hot indexed UL sales could lift the segment.

Kansas City Life will acquire all of the issued and outstanding stock of Grange Life Insurance Company from Grange Mutual. The transaction is subject to review by the Ohio Department of Insurance.

A National Association of Insurance Commissioners group meeting in Kansas City opted for a more conservative approach from Iowa as a framework for an annuity transaction model law.

The National Association of Insurance Commissioners tackled the tough task today of deciding whether to call its annuity transactions model law a “best interest” standard.

A National Association of Insurance Commissioners meeting to iron out a new annuity transaction law turns into a battle over the suitability standard with opponents saying the insurance industry needs a tough best interest rule closer to the fiduciary standard.

Analysts are surprised that American Equity is suddenly a takeover target for private equity buyers. But the company has an appealingly growing business with stable assets.

A National Association of Insurance Commissioners committee called a special meeting in Kansas City to hammer out a model law for annuity transactions. But member states have a wide gulf of disagreement to bridge.

The Securities and Exchange Commission has not defined what a best interest standard means in its more than 100 pages of rule-making. But whatever it is, don’t expect it to be implemented before 2020.

Banks and broker-dealers are asking, and getting, shorter surrender periods to sell fixed indexed annuities. They now sell more than a third of all FIAs.

The National Association of Insurance Commissioners are meeting in Kansas City Thursday and Friday in the hopes of finalizing a best-interest model law. The group hopes to take a model law to the states for adoption.

Companies usually associated with variable annuities are moving up the charts on the fixed indexed annuity side of the business. Some are taking routes other than the independent channel to get there.

President Donald Trump’s hard-line views on trade, a staple of his message long before he entered politics, are beginning to collide with the cold realities of global geopolitics.

“We haven’t had an increase in indexed annuity sales this big in nearly two years,” said Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink, Inc. She continued, “I look forward to seeing how improvements in interest rates will affect sales throughout the remainder of 2018.”

Younger clients aren’t all about the money, even if they have money. Some say RIAs will need to include personal well-being in their holistic practices.

The new variable annuities are not even all variable, but they all carry some level of risk for the investor.

Variable annuity sales are expected to turn positive this year, propelled by the easing of regulation, but also benefiting from the innovation that regulation had inspired.

Americans kept up their health insurance last year despite President Donald Trump’s all-out push to dismantle the Affordable Care Act’s expansion of coverage. That’s the counterintuitive conclusion from a major government survey.

The Fifth Circuit Court of Appeals rejected a final appeal by a trio of states today, clearing the way for the Department of Labor fiduciary rule to be officially killed.

The almost-dead DOL rule gets much of the credit for the boost in fixed indexed annuity sales in LIMRA’s numbers. But rising interest rates allowing more attractive annuity rates are also cited as helping sales.

A Morgan Stanley analyst’s report sees significant strain on the life insurance industry, much of it from long-term care insurance. The report points to rising interest rates and the nearly dead Department of Labor fiduciary rule.

In the wake of shrinking membership and difficulty finding local leaders, member of the National Association of Insurance and Financial Advisors voted today to implement a bylaws change affecting the way its 52 state associations and 550 local associations conduct business.

Financial advisors have the opportunity to grow their practice and gain name recognition by doing podcasts, either as a host, or a guest. Experts provide a few dos and don’ts for those thinking about it.

After the Federal Reserve hiked interest rates by 0.25 percent, banks, especially online financial institutions, started to move CD rates up toward 3 percent. Is it enough to move money?